Spanish textile company Inditex has seen its net turnover grow 8 % in its most recent fiscal year, which ended on 31 January 2015. Several hundred new stores were key to the turnover growth.
Full year turnover grew from 16.7 billion euro to 18.1 billion euro (+ 8 %), while its like-for-like turnover grew 5 %. In the end, the company retained a 2.5 billion euro profit, up 5 % compared to the year before.
Inditex added 343 new stores to its retail park over the last year and it now has 6,683 stores in 88 countries. The Spanish clothing giant is not stopping there, as it plans to open new stores in the United States, among other places. Online shops were also launched in South Korea and Mexico, which means the company now services 27 countries online. Taiwan, Hong Kong and Macao will be added to that list this year.
In the first six weeks of the current fiscal year (1 February - 14 March), turnover grew 13 %, excluding exchange rate effects. The low position of the euro has helped the company as 65 % of its clothes are manufactured in Europe, while it generates a third of its turnover outside of Europe.