×
486
Fashion Jobs
ADIDAS
Senior Manager - Procurement Operations
Permanent · CHENNAI
MOLEDRO
Operation Manager
Permanent · NEW DELHI
MOLEDRO
HR &Admin
Permanent · NEW DELHI
MOLEDRO
Brand Manager
Permanent · NEW DELHI
MOLEDRO
sr Fashion Designer / Production Manager
Permanent · NEW DELHI
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
CL GUPTA RETAIL PRIVATE LIMITED
Production Manager Cum Quality Control Manager
Permanent · Noida
UGRAYA FOODS
Production Manager || Agartala (Tripura) || Poultry Feed Industry
Permanent · Agartala
GOVIND KRIPA INFRATECH PVT. LTD.
HR/Telecalling/Sales Manager/Sales Executives/Asst. Sales Manager
Permanent · Jaipur
JUMBO BAGS
Manager- Production (Fibc / Woven Polypropylene Industry)
Permanent · Chennai
ADIDAS
Manager, Masterdata And Product Launch (.Com & Digital Partners), Apac
Permanent · GURUGRAM
ADIDAS
Manager, Digital Backend Operations, Apac
Permanent · GURUGRAM
THE HOUSE OF DEEPTHI LIMITED
Production Manager
Permanent · MUMBAI
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Hiring-Field Sales Manager
Permanent · Chennai
YUTIKA NATURAL
Area Sales Manager (Guwahati)
Permanent · Katihar
LENSKART
Area Operations Manager
Permanent · Chennai
ELECTRONICA FINANCE
Area Sales Manager - Mumbai- Vasai
Permanent · Mumbai
ADIDAS
Manager Learning & Development & Knowledge Management (M/F/D)
Permanent · CHENNAI
D.LIGHT
Hiring For Area Sales Manager | Bihar | d.Light Energy
Permanent · Patna
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Loan Against Securities - Area Sales Manager
Permanent · Chennai
ANAND RATHI GLOBAL FINANCE
Hiring For Area Sales Manager Sme- Lap
Permanent · Mumbai
By
Reuters
Published
Jun 11, 2014
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Zara owner Inditex posts sharpest profit fall since 2009

By
Reuters
Published
Jun 11, 2014

MADRID, Spain - Net profit at the world's largest clothing retailer Inditex dropped 7.3 percent in the first quarter, its sharpest drop in five years, after a strong euro hit the Zara owner in some of its most lucrative markets.

Pull&Bear in Amsterdam | Source: Inditex - Foto: Inditex


Net profit for the February-to-April period was 406 million euros ($552.77 million), beating expectations, and earnings before interest, tax and depreciation (EBITDA) slipped 2.3 percent. Sales rose 4.3 percent to 3.75 billion euros.

A Reuters poll had forecast net profit of 383 million euros, EBITDA of 721 million euros and sales of 3.79 billion euros.

Inditex, which owns brands like the upmarket Massimo Dutti and teen label Stradivarius, said sales for the period Feb. 1 until June 8 were up 11 percent.

Currencies like the Japanese yen, Turkish lira and Russian rouble have lost between 14 and 21 percent against the euro in the last year, sapping profit for the Spanish retailer in markets where it charges a premium.

The retailer said it would propose a 5-for-1 share split at its annual meeting, a move often taken by companies when their share price is very high. Shareholders will receive five shares for every share they own at the close of business on 25 July. The new shares will begin trading on 28 July.

Inditex shares first hit the 100 euro mark around 18 months ago and have been at or around this level since then, reaching a record high of 121.8 euros at end-October. The stock closed on Tuesday at 110.25 euros.

$1 = 0.7345 Euros

© Thomson Reuters 2022 All rights reserved.