Home

Tags

ZARA

ZARA news and archive

Zara to open new flagship at St David’s in Cardiff

Spanish fashion retailer Zara is to open a new flagship store this summer at St David’s shopping centre in Cardiff. The 36,500 square foot store on Upper Grand Arcade will carry the Inditex-owned brand’s full range of menswear, womenswear and accessories over two floors. The store format features an Automated Collection Point for customers to...

7 Apr 2021

Retail

Inditex accused of turning a blind eye amid rising tensions in China boycott crisis

On Thursday, China, backed by the Chinese government itself, started retaliating against the Western boycott of cotton produced in the ‘Uyghur labor camps’ of Xinjiang, calling for its own boycott against international fashion companies. The boycott primarily affected Swedish retail giant H&M on Thursday, but is now also being launched against...

26 Mar 2021

Business

Inditex reports drop in FY20 sales and profit

Inditex Inditex has announced that the company generated net sales of 20.4 billion euros in FY20, a year dominated by the Covid-19 pandemic, while the company’s online sales registered growth of 77 percent in local currencies, to over 6.6 billion euros, with growth of over 100% during certain periods of the year. The group was able to reach a...

10 Mar 2021

Business

Fast Retailing unseats Inditex in terms of market capitalization for the first time

The parent group of Uniqlo has unseated Inditex for the first time in history, rising to the title of the world’s largest retailer by market capitalization after closing the sessions on Monday and Tuesday, exceeding 100 billion dollars in value on the stock market. The value of Fast Retailing, the Japanese company that owns the fast fashion...

17 Feb 2021

Business

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...

15 Dec 2020

Business

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...

16 Sep 2020

Retail

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...

4 Sep 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...

2 Sep 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...

26 Aug 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...

6 Aug 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...

11 Jun 2020

Business

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...

10 Jun 2020