Inditex sales rise by 5 per cent in the first quarter, but profit falls

At €395m, EBITDA was 7 per cent lower than in the same same period last year and the gross margin was 56.9 per cent, against 57.8 per cent in 2008. Stores sales since the end of the quarter to June 7 rose 9 per cent, in local currencies.

The group opened 95 stores during the period, brining its total to 4,359 in 73 countries. Inditex said that it maintains its store opening plan for 2009 of adding between 370 and 450 new outlets.