Zara Breaks The Market With 2 Billion Euros Profit Margin In 2015
Spanish global clothing giant Inditex, owners of Zara and Massimo Dutti , posted on Thursday a 20-percent surge in nine-month net profits as its investments and expansion began to pay off. The group said in a statement that net profit for Zara rose to 2.0 billion euros ($2.2 billion) between February and October in its non-standard fiscal year as opposed to the 1.7 billion euros profit made during the same period last year.
Expansion efforts had weighed down last year’s results, but profits rose this year by a greater margin than the healthy 16.6-percent rise in sales to 14.7 billion euros. Inditex, which competes with Sweden’s H&M as the world’s top ready-to-wear
clothing retailer, continued its expansion by opening 230 stores and 13,079 jobs in the first nine months of its 2015 fiscal year.Making for a total store count of 6,913. and 146,478 employees.
The company also stepped up its online presence, with internet shopping sites now available in 28 countries. Inditex has also benefited with the slow recovery of its home country Spain, adding nearly 3,300 jobs there this year.
There is a rapid rise in global expansion and Zara is doing pretty really well.