×
92 215
Fashion Jobs
NORDSTROM
Asset Protection - Agent - Scottsdale Fashion Square
Permanent · Scottsdale
NORDSTROM
Asset Protection - Coordinator - Dubuque Distribution Center
Permanent · Dubuque
NORDSTROM
Asset Protection - Agent - Upper Marlboro Distribution Center
Permanent · Upper Marlboro
LULULEMON
Regional Manager | Mid-South
Permanent · New Orleans
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Jefferson City
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Shreveport
GAP
District Manager - Ohio Valley
Permanent · San Francisco
GAP
District Manager - Ohio Valley
Permanent · Auburn Hills
GAP
District Manager - Ohio Valley
Permanent · Sunbury
GAP
General Manager - Silverthorne Outlets
Permanent · Silverthorne
JOCKEY
Financial Analyst - Marketing
Permanent · Kenosha
NIKE
Marketing Director, Women's, Nike.Com & Nike App (Asia Pacific Latin America, Consumer Direct Marketing)
Permanent · Beaverton
NIKE
North America Sports Marketing Director of College Basketball
Permanent · Beaverton
NIKE
Transformation & Organizational Strategy Manager
Permanent · Beaverton
NIKE
Manager, Service And Operations Portfolio
Permanent · Beaverton
NIKE
Director, Digital Merchandising & Planning Analytics, North America
Permanent · Beaverton
ROSS
Store Protection Specialist
Permanent · Reading
ROSS
Store Protection Specialist
Permanent · Raleigh
PRIMARK
p&c Area Manager- Mid-Atlantic/Southeast
Permanent · BOSTON
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - San Francisco
Permanent · SAN FRANCISCO
BLOOMINGDALE'S
Asset Protection Supervisor, Full Time: Fashion Valley
Permanent · SAN DIEGO
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time, Roosevelt Field
Permanent · Garden City
By
AFP
Published
Mar 19, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Zara owner Inditex profit growth slows, stores expand

By
AFP
Published
Mar 19, 2014

MADRID, Spain - Spanish textile titan Inditex, owner of global fashion brand Zara, reported Wednesday slower profit growth in 2013 as it poured money into new stores, with up to 500 more to open this year.

Created 40 years ago in the northwestern Galicia region by the son of a railwayman, Amancio Ortega, the group boasted a worldwide empire of 6,340 stores in 87 markets at the end of its 2013 business year, which runs to January 31.

A Zara store in Sydney

Though Ortega, Spain's richest man and still Inditex's biggest shareholder, retired as chairman and chief executive in 2011, handing over to Pablo Isla, the group's philosophy of expanding with new stores and online sales has not wavered.

In 2013, Inditex's sales rose by 4.9 percent from the previous year to 16.72 billion euros ($23 billion), the group said in a statement.

But despite stressing "strict control of operating expenses", Inditex said business costs rose as it coped with a net 331 new store openings and higher sales in the year.

Net profits edged up by 0.6 percent from the previous year to 2.38 billion euros in 2013, it said.

That result represented a marked slowdown from the previous year, when sales soared 16 percent and net profit by 22 percent.

The new business year began with a sales spurt, however, Inditex added, with sales in local currency terms for the February 1-to-March 15 period rising 12 percent from a year earlier.

Investors welcomed the news, pushing Inditex shares 3.1 percent higher to 106.25 euros by mid-morning on the Madrid stock exchange.

Inditex, which besides Zara owns a string of retail brands including Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Urterque, said it had raised investments to 1.24 billion euros in 2013 from 1.09 billion euros the year before, "driven by retail space growth in the year".

The group said it expected to invest another 1.35 billion euros in 2014, mostly in new retail space.

Inditex planned 450-500 new openings and the absorption of 80-100 small units into neighbouring stores in the year ahead, it said.

The group said it began online sales in Greece in March and planned to launch them in Romania in April, and South Korea and Mexico later in the year.

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.