Curtis Wool Direct

Online sales surge boosts Zara owner Inditex

Buy and sell wool 24 hours a day, 7 days a week from anywhere in the world. Click here.

A 41% jump in online sales for the owner of Zara helped drive higher sales and profits last year. Inditex, which also owns brands including Pull & Bear, Bershka and Massimo Dutti, said a tenth of its sales were online in 2017.

It was the first the time Spanish company has broken out figures for online sales. Like-for-like sales, which excludes new store openings, rose 5%, while net sales were up 9%. Net profits were 7% higher at €3.37bn on revenues of €25.34bn.

Its 88,000 staff worldwide will share a €562m (£499m) bonus pool.

The 10% figure for online sales is not far behind the 12% for Swedish rival H&M, but is far lower than the 40% for the UK clothing chain Next.

Inditex chief executive Pablo Isla said it had been a year of “solid growth”, with recent investment in technology and logistics leaving the company well placed for continued progress.

During the year the company spent €1.8bn, much of which went on further integrating its stores and online businesses in each market.

At the end of the financial year Inditex had 7,475 stores worldwide, a net increase of 183.

It opened its first stores in Belarus and launched Zara online sales in India, Vietnam, Singapore, Thailand and Malaysia.

Zara’s online stores in Australia and New Zealand start trading on Wednesday.

Inditex websites had 2.42 billion visits in 2017 and serviced as many as 249,000 orders an hour.

Shares rose 3.83% in Madrid to €25.19 but are down about a quarter over the past 12 months.

German sportswear brand Adidas also benefited from a leap in online sales.

It its full-year results, it said revenue growth had been driven by double-digit increases in all distribution channels, with “particularly strong support” from e-commerce, where revenues grew 57%.

In euro terms, sales rose by 15% to €21.22bn, up from €18.5bn in 2016.

Operating profit more than tripled to €132m in the final quarter of last year, but the group reported a net loss of €41m million as a result of a tax hit of €76m, due to changes to the US tax code.

Adidas had announced a big share buyback.

Its shares rose by more than 9% on Wednesday, having fallen by 15% over the past six months.

 

Source: BBCNews

Share This Article

America
Argentina
Australia
Belgium
Britain
Canada
France
Germany
Hungary
India
Italy
Malaysia
New Zealand
Russia
South Africa
Spain
Turkey
Uruguay
Wool Promotion
Buy Alpaca from
Mohair
Wool & Specialty Fibre
Tops & Yarn Dyeing
Wool & Top Treatment 
Buy Yarn From
Textile Machinery
Wool Magazines

Interested in reaching buyers in China? Advertise in wool2yarn China magazine and reach major importers of wool and speciality fibre, topmakers, spinners, weavers and textile companies in China, in their own language, breaking down the language barrier. This publication is circulated to 5000 major textile companies in China, Hong Kong and Taiwan and is a buyer’s guide and information source for the year ahead. See More.


Reach buyers in 58 countries – advertise in wool2yarn global magazine. Published once each year (September) it is circulated to over 5000 textile companies. Readership includes importers of wool and speciality fibre, topmakers, spinners and weavers, manufacturers of yarn, knitwear, carpet, and blankets, producers and importers of fabrics, bedding products, garment manufacturers, and brands and retail chains. See more.

Wool Reports
Buy Wool, Wool Tops, Yarn Online
Wool Testing
Wool Logistics
Wool Grease
Wool Products Online
Second Hand Textile Machinery