Inditex net sales totalled EUR 2,665 million in the first quarter (February 1 to April 30) of its financial year 2010, 14 per cent higher than the same period a year earlier.
The net income amounted to EUR 301 million, an increase of 63 per cent from the same period in 2009. The company’s gross profit rose by 20 per cent, to EUR 1,598 million, leaving the gross margin at 59.9 per cent of sales.
Inditex opened 98 stores in 29 countries in the first quarter of 2010, bringing its total to 4,705 in 76 countries as of April 30, 2010. Its workforce grew from 88,924 employees in the first quarter of 2009 to the current 93,779 employees.
Following the end of the first quarter of 2010, Inditex entered India, bringing the number of countries in which it is present to 77. The company opened its first Indian store in Delhi’s Select Citywalk shopping centre on May 28.
— IndiaRetailing Bureau
