Online sales at Zara owner Inditex see company profit despite lockdown June 9, 2021 Online sales at Inditex grew 67 per cent in the first quarter of 2021, helping the group swing from a loss in 2020 to an underlying profit. In the three months to 30 April sales stood at €4.9bn, up 56 per cent from last year, excluding the impact of currency changes, but 11.5 per cent [...]
H&M sales pick up in March as some markets allow stores to reopen March 15, 2021 H&M announced that sales began to pick up in the first half of this month as coronavirus pandemic restrictions have lifted in some markets. Sales between 1 and 13 March were up 10 per cent in local currencies as many countries, including single-biggest market Germany, began to lift restrictions, allowing the retailer to open hundreds [...]
Next snaps up stake in womenswear brand Reiss for £33m March 10, 2021 High street giant Next has acquired a stake in womenswear retailer Reiss for £33m. The fashion firms this morning announced that Next will purchase a 25 per cent equity stake in Reiss. Warburg Pincus, Reiss’s private equity owner, said the deal values the company at around £200m. As part of the strategic partnership, Reiss will [...]
Zara owner Inditex posts 70 per cent drop in net profit during pandemic March 10, 2021 Zara owner Inditex this morning posted a 70 per cent drop in net profit after a year of trading restrictions and weak demand during the coronavirus pandemic. The European retail giant said profit last year fell to €1.1bn, a steeper drop than anticipated, due to the impact of store closures during global Covid-19 lockdowns. Total [...]
FTSE 100 falls but US stocks rise ahead of Fed decision September 16, 2020 The FTSE 100 fell but US stocks opened higher as investors awaited the latest decision from the US Federal Reserve and digested more economic data. London’s main stock index dropped 0.6 per cent to stand at 6,067 points just before 3pm. The FTSE 250 of mid-cap companies fell 0.1 per cent. Read more: UK inflation [...]
H&M sales halve during lockdown months as retailer hopes for June recovery June 15, 2020 Sales at H&M halved during the second quarter of the year, after the coronavirus lockdown forced it to close four-fifths of its global stores during the outbreak. The world’s second-biggest fashion retailer’s net sales for the three months to 31 May were 28.7bn crowns (£2.45bn), 50 per cent lower than the same period last year. [...]
Zara owner Inditex boosts profit as it doubles down on tech December 11, 2019 The owner of Spanish retail giant Zara has posted a sharp rise in profit as increased focus on its online platform helped cut costs. Inditex today reported a 12 per cent rise in net profit to €2.7bn (£2.3bn) in the nine months to the end of October, while revenue was up 7.5 per cent to [...]
H&M reports strongest sales growth in three years September 16, 2019 H&M has reported its strongest sales growth in three years in the third quarter of the year, boosted by the popularity of the retailer’s summer collection. Net sales increased 12 per cent, totalling 62.6bn kr (£5.21bn), and were up eight per cent in local currencies, according to H&M’s latest trading update. Read more: H&M shares [...]
Zara owner Inditex reports strong growth in first half September 11, 2019 Zara owner Inditex – the world’s biggest retailer – reported strong profit and sales growth in the first half. The retail giant, which also owns brands including Bershka and Massimo Dutti, reported net profit of €1.55bn for the six months to 31 July. Read more: Zara owner Inditex boosts sales with rapid online expansion Sales [...]
H&M shares rise after spike in summer sales June 27, 2019 Shares in H&M jumped ten per cent this morning after the Swedish fashion group reported that summer collection sales were up. H&M, which is the world’s second biggest fashion retailer after Zara owner Inditex, said that sales in June rose 12 per cent, beating analyst expectations. Read more: H&M shares soar despite profit fall Sales [...]