Inditex FY17 profit rises on LFL sales growthStaff Writer | March 14, 2018
Spanish fashion retailer Industria de Diseño Textil or Inditex reported that its fiscal 2017 net profit totaled 3.37 billion euros, a growth of 7% from last year.
Inditex EBIT grew 7 percent
Inditex Group's net sales rose 9% to 25.34 billion euros from 23.31 billion euros a year ago, underpinned by growth in all of the geographic regions. In local currencies, sales growth was 10%.
Like-for-like sales grew 5%, with all geographies and all brands delivering growth by this measure.
The revenue from online sales increased 41% to account for 10% of the Group total.
Further, the company said its Board of Directors plans to submit a motion to increase the dividend by 10.3% to 0.75 euro per share at the Annual General Meeting.
Regarding the current trading, the company said store sales increased by 9% in local currencies between February 1 and March 11. ■