Fashion group Inditex’s EBITDA soared 25% in its 2010 financial year.
EBITDA grew to €2.97bn (£2.6bn) in the financial year ending January 31 as its like-for-likes were up 3% worldwide. Total sales jumped 13% to €12.5bn (£10.8bn) with Europe, excluding Inditex’s home country Spain, accounting for 45% of group sales.
The retailer, which operates brands such as Zara and Massimo Dutti, has expanded rapidly in Asia in the year, opening 160 stores. Asia now accounts for 15% of group sales.
The Spanish fashion giant said sales rose by 10% from February 1 to March 14 this year.
Inditex, which has more than 5,000 stores worldwide, plans to open between 460 and 500 new stores this year including its first in Australia and South Africa.
The remainder of the retailer’s brands will launch online this year, alongside Zara which launched last year. Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe will all have transactional websites by the end of 2011. Zara will also expand its online offering into the US and Japan.