According to the Spanish ABC daily report, the Spanish Inditex Group has regained its growth momentum. Its first quarter financial report of 2019 (February-April) sales amounted to 5.927 billion euros, higher than the previous period. The same period of the year increased by 5%; net profit was 734 million euros, an increase of 10%, and returned to double-digit growth again.
Inditex pointed out that in the second half of the first quarter, as the weather became hotter, sales returned to the original level again. Inditex Group’s profit before tax and interest in the first quarter of 2019 was 980 million euros (851 million euros in the same period of 2018), and profit before tax, interest, depreciation and amortization was 1.675 billion euros (1.125 billion euros in 2018). ). The second quarter financial report is expected to be released in September this year. Inditex pointed out that physical store and online sales grew by 9.5% in May, and are expected to grow by 7% in June. Sales in 2019 are expected to grow by 4-6%.
Inditex’s latest business strategy is to increase the store area instead of the number of stores. Therefore, compared with the same period last year, the number of stores decreased by one physical store, totaling 7,447. In addition, it also actively expanded its online sales base last year. In May 2019, it added online sales services in Saudi Arabia, the United Arab Emirates, Lebanon, Egypt, Morocco, India, Serbia, Israel and other countries, and will also expand its territory in the next few months. To South Africa, Qatar, Kuwait, Colombia, Philippines, Ukraine and other countries.
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