Zara Denmark less profitable

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Inditex’ chain Zara, with two stores in Denmark, made a profit of 8,3 million DKK last year.
That is a decline from 24,2 million the year before. Also the gross margin declined from 47.8 million kroner in 2012/13 to 41.7 million by 2013 / 14th
Despite the large decline in the bottom line, the management of Zara Denmark is satisfied with the profit according to its recently published annual accounts of the Danish branch.
It must be seen in connection with last year’s result, which landed 24.2 million. Despite the large decline is the management of Zara Denmark pleased with the results that were expected, says in the management report.
The store located at Strøget will be renovated during 2014 and will be closed for several months, says the accounts.
Inditex itself came out of 2013 with a solid result as the revenue increased by five percent to 16.7 billion euros.