Inditex profit drops in first half of 2014 | RetailDetail

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


Colruyt Group beats expectations

19/06/2018

A solid holiday season allowed Belgian Colruyt Group to raise its market share and even keep its profit margins at the same level - contrary to expectations. The company also posted another online growth, meaning online is now worth 370 million euro.

Makro Belgium "in intensive care", new business plan should remedy

18/06/2018

A more professional product range and a return to bigger packages: that is how Makro Belgium wants to return to better ways. Its CEO Vincent Nolf admits the chain is currently "in intensive care", but hopes to see improvement already next year.

Online supermarket Wink.be throws in the towel

18/06/2018

The Belgian Louis Delhaize Group has decided to terminate its online supermarket Wink.be. The company was started in 2013, but never even came near reaching the break-even point.

Alter’Native Food: A place apart at the upcoming SIAL Paris !

14/06/2018

(Advertorial) From 21st to 25th of October, Paris will be the world's food capital. 7,200 French and international exhibitors will be presenting their innovations among 21 exhibitions sectors.

Jumbo starts Belgian daughter company

13/06/2018

Dutch supermarket chain Jumbo has made another important step towards its expansion in Belgium: it has founded the company "bvba Jumbo Belgium".

Agreement at Carrefour Belgium: fewer redundancies, no store closures

13/06/2018

Trade unions and management have finally reached an agreement at Carrefour Belgium, which will be presented to the employees later this week. An early retirement scheme has however shocked some of the political parties.