Inditex creates 10,377 new jobs over last 12 months
12 Dec '07
2 min read
Inditex reports results for the first nine months of FY2007.
• Operating income (EBIT) increased 27%, up to €1,114 million, and net income rose 30% to reach €825 million • Inditex has created 10,377 new jobs over the last 12 months, for a total staff of 76,087 as at 31st October • The Group has increased its selling area in 184,000 m² between the 1st February and the 31st October of the year in course • The Board of Directors of Inditex has resolved to incorporate the Recommendations of the Unified Good Governance Code to the Board of Directors´ Regulations
Inditex´s net sales were up 17% -18% in constant currency- in the first nine months of FY2007 as compared to the same period a year earlier, due to an increase in both selling area and like-for-like sales. With this rise, net sales came to €6,633 million.
Operating income (EBIT) rose 27% -to reach €1,114 million– and net income grew by 30%, to €825 million, representing €1.33 as EPS. Gross profit was 19% higher (representing 57.1% on sales, versus 56.4% in 2006).
As at 31st October 2007, the Group has increased its selling area in 184,000 m², with an aggregate number of 411 net openings, out of which the stores launched in the European markets –77% of the total number of openings- has a particular relevance.
The new stores in several cities of both Russia (Rostov, Kazan) and China (Macau, Hangzhou) must be pointed out. Expected full year CAPEX remains in the forecasted range.
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