News releases
Inditex opens in Allariz the second store in Galicia of its ‘for&from’ integration project
Tempe, the company that designs, manufactures and distributes Inditex’s footwear and accessories, today opens to trade in Allariz (Ourense) a store which will sell footwear and accessories from previous seasons of all of Inditex’s commercial formats at affordable prices. This store is part of the ‘for&from’ project, which seeks the labour integration of disabled people within the Inditex Group. This is the fourth store – and the second one in Galicia – of the ‘for&from’ project. Just as with the first ‘for&from’ store opened in Allariz (from the Massimo Dutti format), Inditex has worked in partnership with the Confederación Galega de Persoas con Discapacidade, owner of the Special Employment Centre in Integratex, which manages the Massimo Dutti store and which will also work for Tempe. The store staff is made up of five people with a certain degree of physical or intellectual disability.
Inditex Annual General Meeting of Shareholders
Shareholders at the Annual General Meeting approved the 2009 financial statements and the distribution of €748 million in dividends, 14% more than last year.
The 2009 earnings performance reflects satisfactory sales growth and the continued progress in the Group’s international expansion, with 98% of all new stores opened outside Spain.
At his presentation at the AGM, Inditex’s Deputy Chairman and CEO, Pablo Isla, highlighted the achievements under the Strategic Environmental Plan 2007-2010 and unveiled the new ‘Sustainable Inditex, 2011-2015’ Program.
Wrapping up his presentation, Pablo Isla underscored confidence in the Inditex business model and its clear strategic focus on international expansion, currently targeted at European and Asian markets.
Inditex’s Deputy Chairman confirmed that online shopping at Zara would go live this September, and also announced the Group’s entry into two new markets in 2011: Australia and South Africa.
Inditex’s net sales reached 2,665 million euros in the first quarter of 2010
* Store sales in local currencies increased by 13% between 1 February and 7 June
* At the end of the first quarter, the Group had more than 4,700 stores in 76 countries
Inditex net sales totalled 2,665 million Euros in the first quarter (1 February to 30 April) of its fiscal year 2010, 14% higher than the same period a year earlier.