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Zara owner sales rise 13% in full-year period

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Inditex Group, owner of fashion retailer Zara, increased its total net income by 32 per cent in the 12 months to January 31st 2010, it was reported today.

EBITDA was 25 per cent higher than its last financial year and gross profit rose 17 per cent to €6.33 billion (£5.5 billion), as net sales grew by 13 per cent year-on-year.

The group now employs over 100,000 members of staff across 77 different countries around the world, and in the last year net store openings totalled 437.

Europe, Asia and the Americas all now have Inditex stores, which brands include Pull & Bear, Massimo Dutti and Bershka, with European sales excluding Spain representing the largest market with 45 per cent of group sales.

A statement from Inditex commented: “The store opening policy continues to focus on emblematic locations in major international cities.”

Apart from Zara’s flagships, highlights included new Massimo Dutti locations on Paris’ Champs Élysées or Shanghai’s Nanjing Road, in addition to openings on other prime shopping streets in cities such as The Hague, Lisbon, Athens and Seoul.

Zara’s transactional website now services 16 European countries and this will be extended to Japan and the US in the second half of 2011, when all of Inditex’s other brands will also start selling online.

Inditex will propose a dividend of €1.60 per share, an increase of 33 per cent on the previous year, with an interim dividend of €0.80 per share paid on May 2nd and €0.80 per share on November 2nd.

The statement continued: “Inditex plans to expand its store network by a range of between 460 and 500 new establishments. Highlights of new market entries planned for this year include Australia and South Africa, in addition to the e-store launches in the US and Japan.”

Published on Wednesday 23 March by Editorial Assistant

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