Remarkable Achievements In Zara, Parent Company's First Quarter Results

Although access to online channels is relatively late, Inditex of Zara parent company is gradually changing its performance through digitalization process. According to the 2019 first quarter results released by Inditex recently, sales in the first quarter of April 30th increased by 5% to 5 billion 930 million euros in the three months ended April 30th, compared with 2% in the same period last year. Pablo Isla, chairman and chief executive of Inditex, said that the integration of offline stores and online platform businesses is now undergoing strong digital spanformation, and achieving sustainability will be the key pillar of Inditex strategy.

According to the financial report, Inditex's net sales increased 5% in the first quarter to 5 billion 930 million euros, and its net profit increased 10% to 734 million euros. Although sales were 14% lower than the same period in 2017, there was a big improvement over the same period last year. All this benefits from the group digital process.

Inditex chairman and CEO Pablo Isla emphasized in the earnings report that the growth of performance was mainly due to the promotion of digital business expansion. During the reporting period, the group's Massimo Dutti, PU & B, Zara Home and Oysho brands were launched in Morocco, Egypt, Lebanon, Israel, Serbia and Arabia. In addition, Zara also plans to launch online businesses in South Africa, Qatar, Kuwait, Bahrain, Oman, Jordan, Columbia, Philippines and Ukraine.

It is understood that between May 1st and June 7th, Inditex's offline and online sales increased by 9.5% (according to Spanish local currency), and the corresponding increase from February 1st to June 7th was 6.5%.

Previously, Pablo Isla said it would open its brand e-commerce website in various markets around the world by 2020, optimize the online platform platform, increase the online store product return and other services, and the group store strategy in 2019 will be dominated by online, or poor entity stores or closed. Author: Wang Xiaoran Chen Yunzhe