According to WWD, Inditex, the retailer that owns Zara, has just reported store openings
drove profits up 25% last year. And so far… sales have remained
robust in 2008.
The Spanish firm said profits in the 12
months through Jan. 31 reached 1.25 billion euros, or $1.73 billion,
ahead of analysts’ estimates.
Last week, rival chain Hennes & Mauritz (H&M) of Sweden said its first-quarter profits gained 28%.
said it would continue to aggressively roll out stores, with $1.49 billion, earmarked for international expansion
over the next 12 months.
Inditex opened 560 stores last year. As many as 640 stores are expected to open this year, the retailer said. Maybe Chicago will finally get a few locations!
What does this all mean? As the economy flushes down the toilet, we aren’t going to stop shopping for apparel altogether…we are just going to buy more of the cheap stuff. Oh well. Wear it well! Remember the hi/lo concept of dressing. Don’t wear all cheap clothing head-to-toe or you run the risk of looking…cheap.