The numbers: Inditex, the world’s largest clothing retailer, best known for its Zara chain, reported almost flat net profit for 2013—€2.4 billion, or $3.3 billion—in line with expectations but only 1% higher than the year before.
The takeaway: Inditex has increased profit every year since it first listed in 2001—but those days may be over soon. Profit growth has shrunk over the last few years, pushing the company to look more to emerging markets for new growth. Inditex plans to open between 450 and 500 new stores this year, as well as online operations to serve shoppers in Mexico and South Korea.
opened its own discount stores in the country, under the name “Lefties”, to sell last season’s leftover Zara clothes.