Zara is reportedly considering opening new stores in Ireland despite taking a hit to its sales and profit during the pandemic. The Irish arm of the fast fashion giant swung to a loss of 893,000 euros in its last financial year compared to a profit of 4.5 million euros a year earlier. But despite the loss, the Inditex-owned business is looking to...
Dec 31, 2021
Zara has invested 238 million euros into a new headquarters that will house the Zara sales and design teams within Inditex’s complex in Arteixo. Construction on the new headquarters will begin in January, subject to the necessary permissions, and are expected to last around two years. The new facilities, which are being designed with a focus on...
Dec 24, 2021
The parent company of fast fashion giant Zara has reported record sales and profit in the third quarter of the year as it continues to recover from the pandemic. In the three months to October 31, sales at Inditex were 21 percent higher than a year earlier at constant currency, and 10 percent higher than 2019 levels. The Spanish group, which...
Dec 16, 2021
Inditex, the world’s largest apparel retailer, took the market by surprise when it announced changes at the helm. The departure of Pablo Isla and his replacement with the group’s founder’s daughter, Marta Ortega, as well as new CEO’s appointment dragged the company’s shares and left investors uneasy. On Tuesday, Inditex became the value that...
Nov 30, 2021
A new coalition named Cargo Owners for Zero Emission Vessels (COZEV) facilitated by the international NGO Aspen Institute has committed to a first-of-its-kind target to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040. Among the nine first signatories are Amazon, Brooks Running, Frog Bikes, Ikea,...
Oct 27, 2021
Big name retailers such as Inditex, Amazon and Patagonia have joined the Cargo Owners for Zero Emission Vessels (coZEV) coalition, pledging to achieve zero carbon shipping by 2040. Joining a new cargo owner led network facilitated by the Aspen Institute, a large group of companies have announced their intentions to switch all of their ocean...
Oct 21, 2021
H&M’s (HMb.ST) sales grew less than expected from a year ago in the three months through August, and remained lodged below pre-pandemic levels. The company reported sales of £4.7billion at H&M in the three months to the end of August were down 11 per cent on the pre-Covid equivalent two years earlier. Indeed, H&M Group’s growth was slower than...
Sep 17, 2021
Inditex, the world’s largest fashion retail group, has presented half-yearly results that show - in the words of Pablo Isla, CEO of the company - that its “competitive position is stronger than ever.” The group’s shares have swept the stock market, reaching highs not seen since 2012. Earnings before interest, taxes, depreciation and amortization...
Inditex registered a profit of 850 million euros and invoiced 6,993 million euros between May and July of this year. These results represent an improvement of 48 percent over the comparable 2020 period and a 1.2 percent jump from the same quarter of 2019. Quarterly revenues not only exceeded market forecasts but have become the second best in...
The Inditex Group reported revenue of 11.94 billion euros in the first-half, representing growth of 49 percent year-on-year or 53 percent in local currencies. Net profit amounted to 1.27 billion euros compared with a loss of 195 million euros in the first half of 2020. The company’s second-quarter revenue grew 7 percent in local currencies to...
Sep 15, 2021
Zara owner Inditex has announced an acceleration of a number of sustainability targets, including a new aim to achieve net-zero emissions by 2040, ten years earlier than previously planned. The fast fashion giant also aims for all the cotton it uses to be “more sustainable” by 2023, two years ahead of schedule, and for all energy in its direct...
Jul 14, 2021
Despite bold pledges to create a more sustainable future, global fashion brands continue to rely on plastics by using synthetic fibres in their collections. According to a report by Changing Markets these fibres are fueling plastic waste and the climate crises due to the fossil fuels needed to make them. Rampant greenwashing 59 percent of claims...
Jul 9, 2021
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