Net sales of the Inditex Group for the first quarter of fiscal year 2007 reached 2.039 billion euros, 19% higher than in the same period of 2006. Sales growth is result of both the increase in selling area and like-for-like sales growth.
Net income during the first quarter rose to 200 million euros, a 33% increase. Gross margin reached 1.150 million euros, 20% higher than the same period a year earlier, representing 56.4% of sales versus 55.7% during the first quarter of the previous fiscal year. EBIT and EBITDA rose by 27% and 31% respectively.
From 1st February to 30 April, the eight concepts of the Group launched 114 new stores. Inditex maintain its expectations of between 440 and 520 net openings and CAPEX of between 850 to 950 million euros during the whole FY2007.
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