Inditex's strong growth enables job creation

The company posted net sales of €4.9 billion in the first quarter of 2016, representing a rise of 12 per cent as compared to the previous quarter. Net profit rose by 6 per cent in the quarter to €554 million as compared to €521 million previously.

During the quarter, the company expanded to 90 countries in total, with 72 new stores in 31 markets. It expanded its framework agreement with Industriall Global Union to include union workers in the company’s clusters for monitoring, assisting, supervising and accompanying the company’s suppliers.

“Thanks to the group’s strong growth, we are able to generate jobs in all our business markets, most notably, in Spain,” Pablo Isla, chairman of Inditex commented.

Additionally, Inditex, under its employee profit-sharing plan, distributed 10 per cent of the growth in consolidated profit of 2015 among the company’s staff in stores, manufacturing and logistics facilities, brands and subsidiaries.

It again plans to distribute its consolidated profit, following the same criteria, in second phase in 2017. (MCJ)

Fibre2Fashion News Desk - India