Inditex profit drops in first half of 2014

Inditex profit drops in first half of 2014

Spanish fashion giant, Inditex, had lower profits in the first half of 2014, mainly because of bad exchange rate fluctuations. Net turnover did grow 6 % to 8.085 billion euro.

6,460 stores

 

Net profit in the first half of 2014 reached 928 million euro, a 23 million euro drop compared to the same period in 2013. This may result in a 1 % drop in Inditex' 2014 profit forecast, down to 2 %.

 

The profit drop came on the back of a net turnover increase from 7.655 to 8.085 billion euro. In local currencies, there was even an 11 % turnover increase and a 4.5 % like-for-like turnover growth.

 

Inditex gets 19.3 % of its total revenue in its home nation, Spain, while 45.6 % comes from the rest of Europe. From 1 February to 31 July, Inditex has opened 120 new stores in 40 countries, bringing its total to 6,460 stores in 88 countries.

 

Inditex also has web shops in 26 countries. It covers 21 European countries, China, Japan, United States, Canada and Mexico. Soon, Zara will also launch its web shop in South Korea. 

Questions or comments? Please feel free to contact the editors


Albert Heijn pulls plug on AH to go in Germany

14/12/2017

Albert Heijn has decided to shut down its German AH convenience stores. According to the supermarket company, the chain does not have enough room to grow in Germany despite having built up its presence in the past five years.

Carrefour continues to lose French market share

13/12/2017

Kantar Worldpanel’s new numbers underline the fact that Carrefour CEO Alexandre Bompard is facing a huge challenge. Out of every supermarket chain, his chain suffered the largest market share loss in France last month.

New Metro still struggles in the Netherlands and Belgium

13/12/2017

German food retail group Metro says it has created a solid foundation for new growth in its first year since it stepped away from its non-food activities. The Benelux are still worrisome however. 

Tax on meat incoming: will meat become the new tobacco?

12/12/2017

Researchers and elected officials all across the world think there will be a meat tax within the next decade, designed to discourage people from eating meat. The rapid growth of meat consumption has disastrous consequences for our climate and health.

AB InBev opens new brewery in China

12/12/2017

Brewery AB InBev opened a new brewery in China, which will produce 1.5 tons of beer. It will be the company’s largest Asian brewery and the company’s goal is to take full advantage of the growing Chinese middle-class.

Dr. Oetker acquires Belgian industrial bakery

11/12/2017

German Oetker Gruppe, known for its frozen Dr. Oetker pizzas, has acquired Belgian industrial bakery Diversi Foods. The company is a major frozen bread supplier for Belgian and Dutch supermarket chains.

Back to top