Inditex's net sales reached €3,961.1 million in the nine months to 31 October 2004, an increase of 24% compared with the same period a year earlier, with net profit reaching €397 million, 39% more than in FY2003.
* Net income up 39% from that of 2003
* Net sales of Inditex in the first nine months of FY 2004 were 24% higher
* Gross margin represented 53.5%, versus 50.8% a year earlier.
* 4,564 new jobs in the period; total staff of 44,564 employees
* The Group has opened 241 stores in the first nine months to 31 October, and forecasts approximately 325 stores for the whole FY2004.
Inditex's net sales reached €3,961.1 million in the nine months to 31 October 2004, an increase of 24% compared with the same period a year earlier, with net profit reaching €397 million, 39% more than in FY2003. Sales growth in constant currency was 26%, being the lower growth in accounting terms due, mainly, to the depreciation of Latin America currencies as a result of a weak dollar versus the Euro. International stores sales have increased, now reaching 54.9% of total versus 53.8% in the third quarter of FY2003. Since the beginning of FY2004, approximately €550 million of CAPEX has been incurred and 241 new stores have opened. The Group estimates the net opening of between 317 and 337 new locations. The Group has created 4,564 new jobs, being the total staff now of 44,324 employees from 39,760.
