Inditex achieved 406 million euros net profit in the first quarter of 2014 (between February 1 and April 30), 7.3% less than in the same period in 2013, when it reached 438 million. The Spanish company has undergone the ‘currency effect’ and becomes negative first years.
Inditex back in net profit and EBITDA
The net profit was higher than expected by the ‘experts’ from Reuters who expected a profit of 383 million euros.
EBITDA (earnings before interest, taxes, depreciation and amortization) also falls in this quarter of 749 million euros in 2013 to the 732 million in 2014. The ‘experts’ expected EBITDA even less, 721 million.
Inditex’s gross margin increased to the 2.208 million, 3% more. While operating expenses grew 6% on the occasion of the new open surfaces and new stores.
Inditex total sales increase
Despite everything, the Inditex sales they continue to grow. In the first quarter of 2014 sales accounting, those affected by the exchange rate, reach the 3.748 million euros, 3,593 million in 2013, one 4% increase in growth.
On the other hand, sales at constant exchange rate grow by 11%. Inditex also confirmed that sales of this type recorded between February 1 and June 8, 2014 have grown 11%. A fact that explains the joy of some of the signatures of Inditex that we talked about during these months.
8,000 new jobs, 700 of them in Spain
The presentation of the fiscal data is used to emphasize the job creation by Inditex in these months. 8,000 new jobs in the last 12 months, 700 of which were in Spain.
The Empire of 6.393 stores
Inditex already has with 6.393 shops scattered throughout the world in 88 markets. In this last quarter opened 53 openings in 26 different markets.
Zara has 19 new stores which include Serrano Megastore. Pull & Bear It is the second mark with 12 new points. The rest of brands such as Massimo Dutti, Bershka and Uterqüe continue premiering its new image in stores.
Mexico and South Korea they will be the next targets of the Zara online shop for the month of September.
Moreover, Inditex wants to increase the dividend to 2.42 euros per share, It will be proposed at the shareholders meeting of July 15, with a split of 5 new shares for each old.
Official site | Inditex
Inditex in Jezebel
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