SPAIN: Profit Up, Margins Down At Fashion Giant Inditex
The owner of the popular Zara fashion chain said its six month profit jumped 21 per cent year-on-year to 146.1 million on the back of a 19 per cent rise in revenues to 1.98 billion euros from last year.
But the Galicia-based company said its gross margin had fallen 1.2 percentage points to 50 per cent from last year and added it was likely to fall one to 1.5 percentage points year-on-year in the second half.
For the first seven weeks of the second half, Inditex said same-store sales were below expectations, because of the recent heatwave in Europe which coincided with the launch of a new collection and strong year-ago results.
The group opened a net 137 stores in the first half and increased its forecast for full-year store openings to between 300 and 360 from an earlier forecast of 280 to 335.
Companies: Inditex SA
Retail chain operator Inditex says that same-store sales for the second quarter ended 31 July are 'going well', AFX News reported....
Maria Castellano, deputy chairman of Spanish retail group Inditex SA, says the company plans to operate a total of 109 stores throughout Asia compared to the current 16 by 2009, the Expansion newspape...
Spanish fashion group Industria de Diseno Textil SA (Inditex) is planning to launch its Zara chain on to Norwegian market in 2006, according to the business's Scandinavian manager Jesper Carvalho Ande...
Spanish retailer Inditex has reported a 19 per cent hike in first-quarter net sales after the group increased its selling areas and its same-store sales....
Leading luxury department store chain Selfridges has banned all fur goods from its shops....
Fashion group Industria de Diseno Textil SA (Inditex) has named Pablo Isla as its new chief executive officer....
Spain's Hinojosa and Garcia Quiroz families, the founding entrepreneurs behind Spanish retail giant Cortefiel, have agreed to sell their 52 per cent stake to CVC European Equity Partners, the UK-based...
Spanish fashion giant Inditex has opened its first store in Costa Rica under the Zara name....
- Will new Vietnam wage hinder competitiveness?
- Under Armour Lighthouse will disrupt production
- Digitisation to drive new apparel-making models
- How TAL Apparel is staying ahead of the game
- Fashion fit for the future – strategies for speed
- Marks & Spencer top for modern slavery reporting
- Bangladesh garment workers rally for higher wages
- MAS Holdings shares commitment to sustainability
- Gap to shutter all UK Banana Republic stores
- M&S "unappealing" clothing a barrier to growth
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020