MADRID / A Coruña, 11 December (IRIN) –
Inditex accelerated growth of its sales in store and online here in the latter part of the year for the Christmas season, up 14% between November 1 and December 8, as reported Thursday the textile giant.
This increase in sales is registered in a period in which the Constitution Bridge, which gives the starting signal for holiday shopping and is one of the most commercially influx of year is included. To this is added the ‘black friday’, a trade conference to be held on November 28, in which the company applied a 20% discount on their items.
The Galician company stressed that the season autumn-winter is influenced “significantly” for the Christmas campaign, which was subsequently sum of sales, due to the volume of sales.
During the first nine months of its fiscal year (from the February 1 to October 31), Group sales totaled EUR 12.709 million, an increase of 7%. At constant exchange rates, sales growth was 10.5% and sales at Affordable surface recorded strong growth in this period.
Inditex reported a net profit of 1,687 million euros, an increase of 1% over the same period last year.
The Galician giant achieved this result after for its fiscal first quarter (from 1 February to 31 July) reduce its gains 2.4% for the currency effect.
The gross margin, meanwhile, rose 5% to 7.491 million, accounting for 59.9% of sales. The gross operating profit (EBITDA) was € 2,825 million, 2% higher, while net operating profit (EBIT) stood at 2.161 million, up 1%.
As it has explained the group, the change in accounting principles of proportional consolidation of Tempe, your supplier of footwear, the equity for IFRS statement in early 2014 has reduced the gross margin by 40 basis points in the nine months 2014.
This change of criteria has no effect on net profit. The company expects a similar effect on the gross margin for the full fiscal year 2014.
Inditex has kept operating costs under strict control during the growing 7%, mainly as a result of new retail space open and include all costs of launching new stores.
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