Spanish fashion retailer Mango currently having more than 2,700 stores in 109 countries, reported an 11 per cent fall in annual profit, though group turnover increases 9.3 per cent. In 2014, the brand created 2,331 jobs worldwide, representing an increase of 17 per cent over the previous year. During 2014, 43 megastores were opened and in 2015 another 75 openings of this new store format are planned
Mango Man added 90 new retail outlets and closed the 2014 financial year with a total of 240 establishments in over 40 countries. The forecast investment for the group in 2015 is € 300 million, which will be allocated to new store openings, store refurbishments, logistics systems and IT systems. The company said net profit came in at € 107 million on sales up 9 per cent to € 2 billion. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 3 per cent to € 223 million. The company will invest € 300 million in new openings and logistics this year.
