- The Group generated over 11,936 new jobs, 2,385 of which were in Spain.
- Pablo Isla highlighted that “thanks to the Group’s strong growth we are able to generate jobs in all our business markets, most notably, in Spain”.
- In April, the company distributed 10% of the growth in consolidated profit generated in 2015 among employees as part of its extraordinary employee profit-sharing plan.
- Inditexachieved a strong operating performance, with like-for-like sales growth in all l geographies.
- Sales growth in constant currency was 17%.
- Net ssales totalled €4.9 billion. Net profit rose by 6% to €554 million.
- Inditex has extended its reach to 91 markets having opened its maiden stores in Aruba, Nicaragua and Paraguay.
- The Group’s eight brands opened stores in 31 different markets during the first quarter, bringing its worldwide network to 7,085 stores.
Arteixo, Spain, 15-Jun-2016 — /EuropaWire/ — The Inditex Group registered net sales growth of 12% in the first quarter of 2016 (1 February – 30 April) to €4.9 billion, driven by a solid business performance and shaped by like-for-like sales growth in all geographical markets. In constant-currency terms, revenue growth was 17%. Net profit amounted to €554 million, 6% more than in the first quarter of 2015.
The Group has generated 11,936 new jobs in the last twelve months, 2,385 of which were in Spain. It is worth highlighting that in April the Group also distributed the 10% of the growth in consolidated profit of 2015 among the Group’s staff employed in its stores, manufacturing and logistics facilities, brands and subsidiaries under the scope of its extraordinary employee profit-sharing plan. The second phase of this scheme will be distributed in 2017, following the same criteria.
Key financial indicators (1Q 2016) | |||
---|---|---|---|
(€ billions) | 1Q 2016 | 1Q15 | YoY 16/15 |
Sales | 4,879 | 4,374 | 12% |
Gross Profit
Gross margin |
2,834
58.1% |
7.491
59.4% |
9%
|
EBITDA | 955 | 895 | 7% |
EBIT | 705 | 664 | 6% |
Net income | 554 | 521 | % |
Inditex’s Chairman, Pablo Isla, highlighted that “thanks to the Group’s strong growth we are able to generate jobs in all our business markets, most notably, in Spain”.
In parallel, the Group continues to invest in its online and international expansion to support the continued modernisation of the Group and its operations. One highlight is the expansion of Pull&Bear’s head offices, which now occupy 20,000 square metres over two floors. The building was constructed according to the eco-efficiency parameters set out to comply with LEED Gold green building certification to ensure efficient consumption of water and energy. The complex features 30,000 square metres of green space on which around 1,000 trees have been planted.
Growth across all regions
During the first quarter, Inditex expanded its reach to 90 markets, having opened inaugural stores in Aruba and Nicaragua. Zara, Pull&Bear and Bershka made their début in Nicaragua with stores in Galerías Santo Domingo, one of Managua’s most prominent shopping centres. Zara’s maiden store in Aruba is situated in Plaza Daniel Leo – one of the main shopping streets in the country’s capital, Oranjestad.
In addition, all of the Group’s brands continued to expand globally with their fully integrated offline and online store model. At the end of the first-quarter, the Group had 7,085 physical stores, having opened a net 72 stores in 31 markets.
Some of the most noteworthy openings included the Zara store in the heart of New York’s SoHo district, in a cast-iron building which epitomises the late-nineteenth century retail architecture emblematic of this part of Manhattan. In addition, Pull&Bear opened its first store in Luxembourg, on Grand Rue; Zara Home made its début in South Africa and Serbia with new stores in Johannesburg and Belgrade, respectively; Stradivarius opened its first flagship store in Amsterdam, the Netherlands; and Oysho opened its maiden store in Belgium, in the city of Knokke.
It is also worth highlighting the refurbishment and expansion work carried out at the Bershka store on Vittorio Emanuele in Milan (Italy) and the Massimo Dutti store on Avenida Presidente Masaryk in Mexico City, one of the country’s most important shopping streets.
The Group also remained very active throughout May and June. For example, Zara and Zara Home were the first brands to establish a presence in Paraguay, while Massimo Dutti inaugurated its first store in India (watch the video), Stradivarius opened its largest-ever store on London’s Oxford Street and Pull&Bear opened a flagship store in Stockholm (Sweden).
With regards to online, all of Inditex’s brands expanded their ecommerce platforms in the European Union, having launched their online stores in Bulgaria, Croatia, Slovakia, Slovenia, Estonia, Finland, Hungary, Latvia, Lithuania, Malta and the Czech Republic (see appendix). As a result, Inditex now has an ecommerce presence in a total of 39 markets worldwide.
Agreement with IndustriALL
In the first quarter, Inditex also took its framework agreement with IndustriALL Global Union, which represents over 50 million workers in 140 countries, to a new level. On 25 April the two parties both extended and strengthened the original agreements, reached in 2007 and renewed in 2014, to bolster the implementation of mature industrial relations within the retail group’s supply chain. This has become a unique agreement in the sector.
Under the scope of the newly-expanded agreement, union experts will join Inditex’s regional hubs in its manufacturing markets, known as clusters, in order to monitor, supervise, assist and accompany the Group’s suppliers all around the world. Inditex’s 11 existing clusters are in Spain, Portugal, Morocco and Turkey – the most important supplier regions for the Group, as well as in Vietnam, Cambodia, Bangladesh, India, Argentina, Brazil and China. The agreement was signed during the High-level Conference on Responsible Management of the Supply Chain in the Garment Sector organised by the European Commission in April.
In addition, Inditex and IndustriALL will develop specific agreements for the various clusters to address the needs of each supplier region.
Giving back to the community
In the first quarter, Inditex also made significant investments in community programmes as part of its commitment to support humanitarian disasters, education and employment leading to social wellbeing. It is worth highlighting the €200,000 contribution to the emergency relief fund set up by the Entreculturas Foundation in Ecuador when the north of the Country was ravaged by a devastating earthquake. These emergency funds are being used to bring basic necessities –mainly medicines, water and food– to the affected areas and to help build temporary housing for the people who have lost their homes. The money is also being used to create temporary educational programmes so that affected schools can get back up and running as soon as possible.
Over the quarter, Inditex also participated in the creation of the Chair for Refugees and Forced Migrants together with Universidad Pontificia de Comillas. The aim of the project is to support academic research in the field of migration, providing direct and on-the-ground assistance to refugees and migrants and publicising these initiative in order to raise awareness. Specifically, this Chair will drive the research agenda to better understand the global migration situation and to create projects in this field to support migrants with a focus on social integration in Spain and Europe.
In Spain, meanwhile, the company added to its For&From programme with the inauguration of a Massimo Dutti store in Igualada (Barcelona) in collaboration with the non-profit organisation, Moltacte. This new store has created 15 jobs, 10 of which are for people with learning disabilities.
Second quarter trading update
Sales in constant currency rose by 15% between 1 May and 13 June 2016.
Inditex has scheduled its Annual General Meeting for 19 July. The Board of Directors will ask the company’s shareholders to approve the payment of an overall dividend from 2015 profits of €0.60 per share, €0.30 of which was already paid out on 3 May 2016; the balance would be paid on 2 November 2016.
Irene Miller will leave the Board of Directors of Inditex once her tenure expires at the AGM on 19 July 2016. Inditex would like to thank her for her significant contribution to the Board over the years. The Board of Directors of Inditex will present for approval at the AGM the appointment of Baroness Denise Kingsmill to the Board.
Global online sales platform
(as of 30 April 2016; in bold the online stores that went live in FY16) |
|
---|---|
Australia | Zara Home |
Austria | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Belgium | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Bulgaria | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Canada | Zara, Massimo Dutti, Zara Home |
China | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho |
Croatia | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Czech Rep. | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Denmark | Zara, Pull&Bear, Massimo Dutti, Bershka, Straparius, Oysho, Zara Home, Uterqüe |
Finland | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
France | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Germany | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Greece | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Hungary | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Ireland | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Italy | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Japan | Zara, Zara Home |
Latvia | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Lithuania | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Luxembourg | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Malta | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Mexico | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home |
Monaco | Zara, Pull&Bear, Masimo Dutti, Zara Home, Uterqüe |
Netherlands | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Norway | Zara, Massimo Dutti, Zara Home |
Poland | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Portugal | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Romania | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home,Uterqüe |
Russia | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Slovakia | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Slovenia | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
South Korea | Zara |
Spain | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Sweden | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Switzerland | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
Taiwan | Zara |
United Kingdom | Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterqüe |
United States | Zara, Massimo Dutti, Zara Home |
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- New dating site aimed at people with mental health problems launches in Switzerland
- BITSCore Tests Satellite Cyber-Security and Ride-Share Algorithms on Australian Rocket
- StatusMatch.com ed Emirates collaborano per aiutare i frequenti viaggiatori italiani a tornare in volo
- StatusMatch.com and Emirates partner up to help Italian frequent flyers get back in the air
- MinDCet drivers and FTEX powertrain solutions enable EV GaN applications
- Digi Communications NV announces the release of the Q3 2021 Financial Results
- Origami and citoQualis Team up for Startups
- Digi Communications NV announces Investors Call for the Q3 Financial Results presentation
- Digi Communications N.V. announces the extraordinary general meeting’s resolution from 4 November 2021, approving the appointment of KPMG N.V. as the Company’s statutory auditor for the 2021 financial year
- Digi Communications N.V. announces The solution reached by the Bucharest Court of Appeal regarding the investigation conducted by the Romanian National Anticorruption Directorate with respect to RCS & RDS S.A., Integrasoft S.R.L. and certain of their directors
- Digi Communications N.V. Announces the results of the auction organised by the Portuguese Authority for Telecommunications
- Haizol expands its capabilities to include component assembly and product development
- EIC, the World’s Largest Multinational Innovation Program, to Invest €13.4M in Wi-Charge, a Game Changing Wireless Power Company
- European Weightlifting Federation on its way for Electoral Congress
- “Without women, We are unable to solve the world’s greatest challenges” — She Loves Tech 12 Hot Finalists ready to get their chance at the Local Pitch in South Europe!
- Significant improvement in increasing Time In Range and reducing hypoglycemia among people equipped with Diabeloop DBLG1
- Digi Communications N.V. Announces the Convocation of the Company’s Extraordinary General Meeting of Shareholders on 4 November 2021 in order to appoint KPMG N.V. as the Company’s new statutory auditor for the financial year 2021
- Unit of Measure enters partnership with Stibo Systems
- Haizol, metal manufacturing giant, launch a brand new website which is both user friendly and interactive
- Groundbreaking Immersive Experience from Samsung and Artist Michael Murphy Reveals a New Perspective for Visual Entertainment Through the Stunningly Slim Neo QLED TV
- Collaboration between Airbus and Neural Concept
- Archpriest Nikolay Balashov on Patriarch Bartholomew’s speeches in Kiev
- ABB's Peter Voser joins Xynteo's Europe Delivers partnership as it new Chairman
- Digi Communications NV announces that a new stock option programme was approved
- Leverage the benefits of digital manufacturing with Haizol
- Digi Communications NV announces the release of the H1 2021 Financial Results
- Digi Communications NV announces Investors Call on the Financial Results for H1 2021
- Rockegitarist-Sensasjon Rocky Kramer Har Fått Hovedrollen I Mutt Productions Filmen Rockin’ In Time
- Dispatch.d Offers Unique US Market Entry Services for European Impact Brands
- CSA Research’s New Localization Intelligence Analyzer, powered by LocHub, Helps Organizations Improve their Website’s Effectiveness for Global Customers
- Customer Data Platform Industry Accelerated During Pandemic: CDP Institute Report
- Digi Communications N.V. announces that two of its subsidiaries entered into two facility agreements
- Introducing Cap Expand Partners, Helping Business Leaders Break International Barriers
- Hong Kong’s Innovation and Technology Venture Fund Becomes Strategic Financial Investor of Ignatica
- Cure for prostate cancer on the horizon
- Fanpictor signs multi-year partnership with Royal Belgian Football Association
- Fanpictor unterzeichnet mehrjährige Partnerschaft mit dem Königlich Belgischen Fussballverband
- Fanpictor signe un partenariat pluriannuel avec la Royal Belgian Football Association
- Fanpictor firma una colaboración de varios años con la Real Federación Belga de Fútbol
- Fanpictor firma una partnership pluriennale con la Royal Belgian Football Association
- Fanpictor tekent meerjarige partnership met Koninklijke Belgische Voetbalbond
- Launch of the New Akenza Platform
- De zelflerende algoritme DBLG1®: eenvoudig te gebruiken voor een optimale en gepersonaliseerde behandeling van diabetes type 1
- Launch of the Anna Lindh Foundation Virtual Marathon for Dialogue!
- Digi Communications N.V. announces the exercise of stock options by the Executive Director of the Company pursuant to the decision of the Company’s general meeting of shareholders dated 30 April 2020 and in accordance with the stock option plan approved at the level of the Company in 2017
- New research unlocks long tail growth opportunity for the tech industry
- Digi Communications NV announces the availability of the instructions on the 2020 share dividend payment
- Digi Communications NV announces that conditional stock options were granted to several Directors of the Company based on the approval of the general meeting of shareholders from 18 May 2021
- Digi Communications N.V. Announces the Company’s General Shareholders Meeting resolutions adopted on 18 May 2021 approving, amongst others, the 2020 Annual Accounts
- Digi Communications N.V. (“Digi”) announces the Q1 2021 Financial results
- Digi Communications NV announces Investors Call for the Q1 2021 Financial Results
- Digi Communications N.V. announces an Amendment to the 2021 Financial Calendar
- Fastpayhotels Hits an Industry Milestone by Connecting 500 Hotels Per Day Through DerbySoft Technology
- 4 ways to build a more flexible supply chain
- Join the world's leading virtual CBD event for FREE
- DEEPENING STRATEGIC RELATIONSHIP BETWEEN UBC AND PIONEERING DECENTRALISED PLATFORM, MANYONE
- Mono Solutions recognizes Norwegian small business agency with best website 2021 award
- Mono Solutions and Xrysos Odigos unlock new opportunities for small businesses
- Behind the scenes of a 10,000-people online conference: creating a live-event atmosphere and leveraging cybersecurity software
- Largest Supply Chain for Face masks, FFP2, FFP3 and cloth masks
- TRANSMAR AND TRANSMETRICS SIGN DEAL FOR STATE-OF-THE-ART LOGISTICS COLLABORATION
- Amendment of Digi Communications N.V. Financial Calendar for 2021
- 4iG and Digi Communications NV’s Romanian subsidiary have entered into a term sheet with regards to a potential acquisition by 4iG of DIGI Group’s Hungarian operations
- “Building Healthy Relationships and Enhancing Gender Equality”: Young women from Cyprus, Egypt, Lebanon and Jordan come together
- Bring Ventures investit dans Crossborderit (CBIT), DDP et une solution de commerce électronique
- Bring Ventures investiert in Crossborderit (CBIT), eine DDP (geliefert verzollt) und E-Commerce Lösung
- Bring Ventures invests in Crossborderit (CBIT), DDP and ecommerce solution
- Lionspeed GP with Patrick Kolb and Lorenzo Rocco joins forces with CarCollection Motorsport in 2021
- Eurekos, ein klassenbester LMS-Anbieter, hat seine Position im renommierten Fosway 9-Grid™ für Lernsysteme verbessert
- Eurekos, en førsteklasses LMS-udbyder, har forstærket sin position på den prestigefyldte Fosway 9-Grid™ for læringssystemer
- Eurekos, ein erstklassiger LMS-Anbieter, hat seine Position auf dem renommierten Fosway 9-Grid™ für Lernsysteme weiter ausgebaut
- Digi Communications N.V. announces Share transaction made by an executive director of the Company with class B shares
- Digi Communications N.V.: Announces an Amendment to the Financial Calendar for 2021
- Ideanomics Invests $13M in Italian EV Motorcycle Company, Energica
- DigiSky and Asman Technology Announce Global Reseller Agreement
- Neowintech - O Marketplace Da Sua Próxima Solução Financeira
- Neowintech - Il Marketplace per la tua prossima soluzione finanziaria
- PIONEERING DECENTRALISED SECURE MESSAGING PLATFORM MANYONE ANNOUNCES STRATEGIC RELATIONSHIP WITH UNIVERSITY COLLEGE LONDON CENTRE BLOCKCHAIN TECHNOLOGY
- Digi Communications NV announces the release of the 2020 Preliminary Financial Results
- Fraunhofer IGD develops automated robotic arm to scan cultural objects in 3D, now cooperating with Phase One
- Adapt Fast or Disappear – Choosing the Right Supplier
- Digi Communications NV announces Investors Call for the 2020 Preliminary Financial Results
- A URSAPHARM Arzneimittel e a CEBINA anunciam uma parceria com vista a reaproveitar o anti-histamínico azelastina para combater a COVID-19
- URSAPHARM Arzneimittel et CEBINA annoncent un partenariat pour reconvertir l'antihistaminique azélastine afin de lutter contre la COVID-19
- URSAPHARM Arzneimittel y CEBINA anuncian una colaboración para readaptar el antihistamínico azelastine para combatir la COVID-19
- URSAPHARM Arzneimittel and CEBINA announce partnership to repurpose the antihistamine azelastine to combat COVID-19
- ANIL UZUN Will Launch Bass Guitar Lessons Series on Youtube
- Henrik Stampe Appointed CEO for Mono Solutions
- Anna Mossberg leder Nordens största privata AI-lab i Sverige: "Utan AI riskerar svenska företag att förlora sin konkurrensfördel."
- What COVID-19 has taught us about manufacturing & the importance of a digital online marketplace
- Digi Communications N.V. announces: the Supreme Court of Hungary dismissed the Company’s appeal related to the 5G Tender procedure
- Customer Data Platform Industry to Reach $1.5 Billion in 2021: CDP Institute Report
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GreenMantra Technologies Announces Exclusive Distribution Relationship with HARKE GROUP