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Inditex to close all Bershka, Pull & Bear and Stradivarius stores in China

Spanish fashion giant Inditex is reportedly set to close all its Bershka, Pull & Bear and Stradivarius stores in China. Bershka currently has 34 stores in mainland China, Pull & Bear has 37, and Stradivarius has 22. The stores could be closed as soon as January, WWD reports, citing anonymous sources. The three brands, which are all around the...

Jan 8, 2021

Management

Inditex profit drops but sales recover over Q2

Inditex generated a net profit of 671 million euros in the nine months of FY20 and 866 million euros in the third quarter, while Ebitda reached 1.85 billion euros in the quarter, down from 2.23 billion euros in the prior year. The company said in a statement that the sales trend continued to improve with sales declining by 14 percent or 10...

Dec 15, 2020

Fashion

Zara Home introduces music capsule collection

Inditex-owned brand Zara Home has introduced its first music capsule collection, the ‘Music Collection’, in collaboration with French DJ and co-founder of the Chapel brand Agathe Mougin and technology retailers including Audio Technica and Röth & Meyer. The tech collection is dedicated to music and in particular to vinyl collectors. The line is...

Nov 25, 2020

Management

Inditex returns to profit in Q2, expects further recovery in Q3

Inditex Group sales continued to recover during the first half of 2020 to reach 8 billion euros, decline of 37 percent, helped by an improved second quarter, when the fall in sales slowed to 31 percent, from a decline of 44 percent in the first quarter. The company said in a statement that it also returned to net profit in the second quarter of...

Sep 16, 2020

Report

Inditex budget brand Lefties makes online debut

Zara owner Inditex has launched its budget brand Lefties online for the first time. The brand, which sells clothes for women, men, kids and babies, will initially be available only for online shoppers in Spain and Portugal, with all its collections made available online in both markets. Lefties currently has brick-and-mortar stores in nine...

Sep 4, 2020

Retail

Zara picks dLocal as payment platform in Uruguay and Paraguay

Fintech company, dLocal, has announced that it is supporting fashion giant and first Inditex brand, Zara, in its e-commerce operations in Uruguay and Paraguay through the use of its 360 payments platform. With this platform, Zara will be able to accept local credit card payments with the option of monthly installments. Customers will now be able...

Aug 26, 2020

Fashion

Inditex and Industriall pledge to support suppliers during Covid-19

Inditex, owner of Zara and seven other large fashion retailers, has committed to maintaining workers’ rights through its supply chains and through the stability of payments. Together with the Industriall Global Union, a representative of 50 million workers in the garment industry, the pair have issued a joint pledge to reaffirm their commitments...

Aug 6, 2020

Management

Inditex plans 1 billion euros investment to boost sales and profit

Inditex posted a 44 percent decline in its first quarter turnover to 3.3 billion euros. The company said in a statement that the decline was limited to 44 percent despite as many as 88 percent of the group’s stores being closed at some point during the quarter due to the Covid-19 pandemic. The company added that online sales recorded strong...

Jun 10, 2020

Report

Inditex revenue decreases 44.3 percent for Q1

The company said on Wednesday its Q1 net loss dropped. Compared with the same period last year, revenues also decreased by 44.3 percent. For Q1, the company's net profit was -409 million euros, dropped from 736 million euros last year. Furthermore, revenues decreased to 3,303 million euros. The profit margin of the company dropped to -12 percent...

Jun 10, 2020

Management ANALYSIS

Amazon, LVMH, Inditex... Apparel heavyweights rise to the coronavirus challenge

New York – From Amazon to Inditex and LVMH, many big names in the apparel and fashion industry are leading by example in the fight against the coronavirus spread. Amazon on Tuesday made a priority of medical supplies and household staples, putting shipments of other goods on hold to focus on key items during the coronavirus outbreak....

Mar 19, 2020

Management ANALYSIS

Inditex FY19: Sales and profits up despite coronavirus 287 million euro blow

New York – The world’s largest fashion retailer reported higher net profit and sales for fiscal 2019 on Wednesday, despite seeing sales plunge 24 percent during the first 16 days of March as Inditex SA closed downs thousands of stores temporarily to help mitigate the coronavirus pandemic. Inditex reported net profit of 3.64 billion euros for the...

Mar 18, 2020

Management

Zara-parent Inditex postpones dividend, books 287 million euros inventory provision

Inditex Group’s net sales increased by 8 percent in FY19 to 28.29 billion euros (31.14 billion dollars), underpinned by growth across all of its brands and in all of the geographies in which it has a presence. However, the company saw its store and online sales in local currencies decrease by 4.9 percent between February 1 and March 16, 2020,...

Mar 18, 2020