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Zara owner Inditex increases profits by 5 pct

Xinhua, March 19, 2015 Adjust font size:

Textil group Inditex increased profits by 5 percent from February 2014 to Jan. 31, 2015 to a total of 2.502 billion euros (2.665 billion U.S. dollars), the Spanish company reported on Wednesday.

The world's leading clothing retailer increased their sales by 8 percent to 18.117 billion euros and his founder, main shareholder and the world's fourth richest person, Amacio Ortega, will earn 961 million euros this year, up from the 894.4 million euros of the preceding fiscal year.

Inditex president and managing director Pablo Isla earned 7.93 million euros in 2014, which meant a 24.88 percent increased in comparison with the previous fiscal year.

Inditex reported that it had created 8,741 new job opportunities worldwide during 2014 fiscal year, more than 1,800 in Spain, and expected to invest around 1.350 billion euros during 2015-2016 fiscal year.

Nowadays Inditex has 6,683 stores, 343 more than a year ago, in 88 different markets.

The company expects to open between 420 and 480 new stores between 2015 and 2016. (1 euro = 1.07 U.S. dollars) Endit