Spanish retailer Inditex net sales up in 2011

21 March 2012 (Last Updated March 21st, 2012 07:15)

Spanish fashion retailer Inditex Group has posted a 10% increase in net sales to €13.79bn in 2011, compared to €12.52bn in the previous year.

Zara

Spanish fashion retailer Inditex Group has posted a 10% increase in net sales to €13.79bn in 2011, compared to €12.52bn in the previous year.

The company said that the net sales surged in all geographic areas including Spain, the rest of Europe, the Americas, Asia and the rest of the world.

Net sales in local currencies grew 11%, while like-for-like store sales climbed 4%.

Net income jumped 12% to €1.93bn in 2011, compared to €1.73bn last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10% to €3.25bn from €2.96bn in 2010.

Inditex Group has opened 483 retail shops in 2011, bringing its total number of stores to 5,527 and created 9,374 new jobs, which increased its workforce to 109,512 employees.

During the year, the firm has unveiled stores in 49 markets, including five newer countries - Australia, Azerbaijan, Peru, South Africa and Taiwan.

The retailer's international expansion included 132 openings in China, 30 of which were Zara outlets; Zara passed the 100-store mark in the country.

Inditex's two other concepts, Oysho and Zara Home, opened 17 and five stores respectively in 2011, bringing the total number of Inditex locations in China to 275.

In Europe as a whole, the firm has set up 233 new stores, including the first Oysho in Ukraine, the first Bershka and Zara Home stores in Germany, the first Pull&Bear in the Netherlands, and the first Massimo Dutti in Lithuania.

By September 2011, all of the Group' formats had online stores, however, Zara is expected to begin offering its fashions online in China during next winter season.

As for full-year 2012, the firm plans to grow its total number of retail outlets by between 480 and 520 globally, which includes the Zara store opened recently in New York City.

Image: Inditex's two other concepts, Oysho and Zara Home, opened 17 and five stores respectively in 2011, bringing the total number of Inditex locations in China to 275. Photo: Zara