Marketing resarch

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Vilnius Gediminas Technical University
Business management Faculty
Department Of Enterprise Economics and Business Management



Project about accounting
“ZARA”

Prepared by
Student’s Name: Guillaume SURRUSCA, HugoSANCHEZ, and Jean-Baptiste ROS
Group: Erasmu

Vilnius, 2011

Summary:
Sommaire
History of the brand Zara 3
Part I: Analysis of profitability 3
Survey of GIS Business 3
Calculation of Cash Flow 5
Comments 6
Calculation of the industry standard 6
Leverage 7
PART 2: ANALYSIS OF THE SOLVENCY OF THE COMPANY 8
The system reviews 8
Functional analysis of balance sheets 9
vStudy of the FR, BFR and TN 9
v Study of components of working capital 10
Analysis of the financial policy of Zara 10
Study of the financial structure of Zara 11
CONCLUSION 12

History of the brand Zara
Founded in 1975 by Amancio Ortega, Zara was born in La Coruna in Spain and it still has its headquarters. This chain of clothing stores is the main brand of the Inditex Group which also ownsthe Massimo Dutti and Bershka brands. Some details about the Group:
* The Board of Inditex is 9497 million in 2007 (+15.9% compared to 2008)
* posted net income of Inditex is 1.189 billion euros in 2009
Zara is known worldwide with 899 stores in 62 countries and is the distributor of clothing displaying the greatest growth (in the words of its website ...).
This brand offers a widerange of choice and its collections are updated very frequently (about every two or three weeks and not every change of season as is customary in ready-to-wear). Its strong point is simply to offer its customers collections showing the trends of fashion designers, but at a knockdown price. Its customer base is large enough, since the brand is selling clothes for men, women and children, as well asunderwear, accessories, shoes and other items for interior decoration (ZARA HOME).
Its main competitors are Mango (which we shall study in order to establish an industry standard), H & M, Benetton, C & A, Kookai, Etam or Cacharel.

Part I: Analysis of profitability

Survey of GIS Business
| 2007% | CA | Change 2009/2008 | 2006% | CA | change 2008/2007 | 2005% | CA |
merchandisesales |    504,734515.00   | 100.00% | 12.26% |    784.00 449 614   | 100.00% | 14.70% |    391 976 730, 00   | 100.00% |
- purchase cost of goods sold |    226 912 597.00   | 44.96% | 11.25% |    203,958340.00   | 45.36% | 14.18% |    178 621 999.00   | 45.57% |
purchases Goods |    230 294 316.00   | | 11.42% |    206,684 597.00   | | 12.09% |    184,396 245.00   | |
+ / - Change ininventories for |      3381 719.00   | | 24.04% |      2726 257.00   | | -52.79% |      5774 246.00   | |
= Profit margin |    277,821918.00   | 55.04% | 13.09% |    245 656 444.00   | 54.64% | 15.14% |    731.00 213 354   | 54.43% |
Production for the year |                           - | | |                           - | |                     - |                           - | |
+Commercial margin |    277,821918.00   | 55.04% | 13.09% |    245 656 444.00   | 54.64% | 15.14% |    213,354 731.00   | 54.43% |
consumption from third parties |    92 748668.00   | 1838% | 10.13% |    84,217946.00   | 18.73% | 13.78% |    74 019 766.00   | 18.88% |
= value |    185 073 250.00   | 36.67% | 14.64% |    161 438 498.00   | 35.91% | 15.86% |    139,334965.00   | 35.55% |
ValueAdded |    185 073 250.00   | 36.67% | 14.64% |    498.00161,438   | 35.91% | 15.86% |    139,334 965.00   | 35.55% |
+operating subsidies |              1   | 0.00032600.00% |                                  - |                           - |       - |                                 - |                          -     |       - |
Taxes and similar payments |    10 670 236.00   |...
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