June 10, 2020 / 6:30 AM / a month ago

BRIEF-Inditex: Total Annual Capital Expenditure During The Period 2020-2022 Will Be Around 900 Mln Euros

June 10 (Reuters) - Industria de Diseno Textil SA:

* TOTAL ANNUAL CAPITAL EXPENDITURE DURING THE PERIOD 2020-2022 WILL BE AROUND 900 MILLION EUROS

* ONLINE SALES ARE EXPECTED TO REACH MORE THAN 25% OF TOTAL SALES BY 2022

* THE PLAN INCLUDES DIGITAL INVESTMENTS OF ABOUT 1 BILLION EUROS OVER THE THREE YEARS

* HIGHER QUALITY NETWORK OF BETTER LOCATED STORES IN CONJUNCTION WITH ONLINE IS EXPECTED TO GENERATE LONG-TERM ANNUAL LIKE-FOR-LIKE SALES GROWTH OF 4%-6%

* GROSS SPACE GROWTH IS EXPECTED TO BE 2.5% ANNUALLY

* AT THE END OF THE PERIOD, 965 STORES WERE OPEN IN 27 MARKETS

* IT IS EXPECTED THAT MOST KEY MARKETS WILL HAVE REOPENED BY THE END OF JUNE

* ONLINE SALES IN Q1 2020 INCREASED 50%, ONLINE SALES IN APRIL INCREASED 95%

* THE GROSS MARGIN REACHED 58.4% COMPARED WITH 59.5% IN Q1 2019

* MAINTAINS ITS DIVIDEND POLICY THAT COMBINES A 60% ORDINARY PAYOUT AND BONUS DIVIDENDS

* GROSS STORE OPENINGS WILL BE AROUND 150 STORES PER YEAR IN THE 2020-2022 PERIOD

* DECIDED TO ABSORB BETWEEN 1,000 AND 1,200 STORES IN 2020 AND 2021 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below