zara 大阪
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Sunday, 30th September 2007
Retail
Thu 20 Sep 2007
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Zara's vital stats better than expected
THE owner of the Zara clothes chain has posted forecast-beating first-half results.
Inditex, which is headquartered in Spain but has operations across the world, bagged a net profit of £273.7 million, a rise of 33 per cent on the same period a year ago.
But the figure was also better than the £262.5m that analysts had been expecting, for the group which has a flagship store on Princes Street and is now Europe's biggest clothes retailer with a store portfolio totalling 3336 outlets.
The "fast fashion" firm - known for rushing the latest catwalk trends to high street rails - also saw sales over the six months to July 31 jump 19 per cent to £2.87 billion, helped by a seven per cent increase in like-for-like sales.
Chief executive Pablo Isla said he saw retail consumption remaining "strong" adding that group sales since the start of the second half in July were in line with the company's expectations. "We are not seeing any weakness," he said.
Mr Isla said the company, which has created more than 10,000 jobs over the past year, planned to open another 280,000sqm of retail space this year with about two thirds for Zara and the rest spread across brands such as underwear retailer Oysho.
He said Inditex wanted to increase its retail space by an average 15 per cent over the next few years and was particularly focused on Europe, eastern Europe, Russia, China and Japan.
This article: http://business.scotsman.com/retail.cfm?id=1506252007
Last updated: 20-Sep-07 12:00 BST
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