25 percent Profit Increased at Inditex

The owner of Zara chain, the Spanish clothing retailer reported 1.25 billion euros profit, wich is the slowest profit growth in four years.

 More than four-fifths of the shops it
plans to add in the current year will be outside Spain, the retailer
said. Annual net income rose 25 percent, the same as in the prior
year, though sales growth declined to 15 percent from 22 percent.
For the full year, net income climbed
to 1.25 billion euros on sales of 9.44 billion euros. Profit was 13.3
percent of sales, up 1.1 percentage points.
The retailer said it will spend 1
billion euros to expand this year, adding as many as 640 new stores.
About 85 percent of the outlets will be outside Spain. Inditex also
said it will open a new chain called Uterque in the second half,
selling accessories, shoes and bags.
Between 20 and 30 Uterque stores will
open in the current fiscal year, of which four-fifths will be in
Spain and the rest in Portugal and Greece, Isla said.
Inditex is present on the Hungarian
market with its 5 brands, with Zare since 2004, with Pull &
Bear, Breshka, Stradivarius and Oysho since last year.