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zara news and archive

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

Business

Shopping online? This is what retailers know and do with data

The convenience of online shopping has changed the world of e-commerce and how we shop for clothes. Online sales have been a lifeline to many retailers when physical stores were forced to close during the pandemic, but what are they doing with the data they collect from shoppers? From every ‘add to a wish list,’ basket or payment, the world’s...

Sep 2, 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

Business

Coronavirus takes fast fashion's foot off the gas

Zara, H&M and Gap may be slowly reopening their stores but the coronavirus epidemic has had a devastating financial impact on the fast fashion sector, which needs a radical overhaul if it is to recover, experts say. Nearly 40 percent of businesses in the sector are expecting the impact to be "much worse" than that of the 2008 financial crisis, a...

Jun 11, 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

Business

Nike named “most valuable” apparel brand again

Sportswear giant Nike has claimed the title of the world’s “most valuable” apparel brand for the sixth consecutive year, however, the Brand Finance Global 500 report also revealed that brands across apparel will be impacted by the Covid-19 pandemic and stand to lose up to 20 percent of their brand value. The report reveals that the world’s 500...

Apr 16, 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

Business

Massimo Dutti ends kids collection

Massimo Dutti's parent company Inditex is dropping Massimo Dutti Kids in order to focus more on Zara Kids. Massimo Dutti's upcoming spring/summer collection will be the last to include a kids collection. Stores offering the kids range will see that square footage converted to more space for the men's and women's collections. Employees who worked...

Mar 2, 2020

Business

Amiri sues Zara

American brand Amiri is suing Zara for allegedly copying its Amiri MX2 jeans the former selling them under the name Combination Skinny Biker Jeans. Amiri filed its complaint in federal court in Los Angeles demanding 3 million dollars in compensation from Zara's parent company Inditex. The lawsuit Amiri filed claims that details of the jeans,...

Jan 24, 2020