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Inditex FY17 profit rises on LFL sales growth

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Staff 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
Earnings before interest and tax or EBIT grew 7 percent to 4.31 billion euros, and EBITDA increased 4% to 5.3 billion euros.

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.