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Zara owner Inditex closes 2012 on a high Monday, 31st December 2012
Zara store in Barcelona. Inditex stock finally closed 70 per cent up on the last day of 2012, after a year that saw the Spanish retailer go from strength to strength. Despite the economic troubles of Inditex’s domestic market, shares in the fast fashion giant rose 68.64 per cent from January 2012, leaving it with a market capitalisation of around EUR 65 million, compared with the EUR 39 million it recorded a year before.
Inditex Q1 profits up 30% Wednesday, 13th June 2012
Zara's Barcelona store The Zara, Massimo Dutti and Bershka owner said net profits rose 30 per cent to EUR 432 million in its first quarter to 30 April. As the world’s largest retailer, Inditex embarked on an aggressive expansion plan during the period, opening nearly one store a day as it looked to take the pressure off its domestic Spanish market by investing elsewhere.
Fawaz AlHokair enters eighth international market with the opening of fifteen global brands simultaneously Wednesday, 18th April 2012
Fawaz A. AlHokair & Co, SJSC, (Alhokair) have made their debut in Tbilisi, Georgia, as major tenants of the newly opened Uptown Tbilisi Mall. The launch will see Alhokair become Georgia’s largest retail group, with 15 of the retail specialist’s franchised brands opening in the mall on 6 April, and another 17 planned to open by the end of June this year.
Fawaz Alhokair announce 62% increase in annual profits Tuesday, 17th April 2012
The Saudi Arabian-based retail franchiser on Tuesday revealed a 62.4 per cent annual like-for-like increase in operating profits. Estimated operating profits for the year ending 31 March totalled SAR425.48 million, (USD113.41 million), an increase of 62.4 per cent compared to the same period a year before.
Inditex receives vote of confidence from Nomura and Banco Sabadell ahead of earnings update Wednesday, 7th December 2011
Japanese bank Nomura gave Inditex a vote of confidence this week by reiterating its neutral recommendation price target of EUR 66 for the Spanish retail firm. With Inditex’s earnings presentation just one week away, Japanese media reported that Nomura expects the retailer to present solid results and showcase its strength in the Spanish market.
H&M eyes up-market with Asian expansion Tuesday, 4th October 2011
Hennes & Mauritz AB will step up its Asian expansion through its premium COS and Monki brands. Instead of rolling out more H&M stores, Europe’s second-largest clothing retailer is considering locations in Hong Kong for its upmarket COS brand, which could become a “testing ground for China,” Pernilla Wohlfahrt, head of new business at H&M told press.
Inditex profit rises 14% with store openings Wednesday, 21st September 2011
The world’s largest fashion retailer Inditex SA reported net profits rising 14 per cent in the first half as the group continued its global expansion. Parent of fast-fashion chains Zara, Bershka and Pull & Bear, Inditiex net profit for the six months to the end of July was EUR 717 million, up from EUR 628 million a year earlier.
Westfield’s Stratford Mall already 90% full Thursday, 14th July 2011
With just two months to go before Stratford City opens its doors, the retail Mecca is now more than 90 percent full.
Westfield’s £1.45 billion centre has defied the high street downturn by landing a host of big name retailers.
Zara owners Inditex is the latest to sign up, planning three stores at the 1.9 million sq ft mall adjacent to the Olympic stadium. Zara will occupy a 27,000 sq ft double-height unit, along with two smaller stores for its Pull & Bear and Bershka brands.
Inditex will join Hugo Boss, Lacoste, Superdry, John Lewis and Marks & Spencer. The centre’s launch on 13 September will be timed with the opening on London Fashion Week.
Zara’s Inditex Q1 profit up 10% Wednesday, 15th June 2011
The Spanish retailer cashed in on its fast fashion and ‘in-house’ supply chain. Inditex de Diseño Textil, S.A, parent company to brands including Zara, Massimo Dutti and Bershka reported first quarter profit to the end of April rose by 10 percent to EUR 332 million, with an 11 percent improvement in sales to EUR 2.96 billion. With an average of twelve new stores a week opening over the first quarter across 29 counties, Inditex was able to compensate for dour retail sales in its domestic market, and instead focus on growth in Asia, Australia and eastern Europe. The business has also been able to tap into the fast fashion demand growing globally, with a design-to-shop-floor turnaround of two weeks. This is made possible by a majority of its ranges made in house by factories in Spain and Portugal. Inditex announced it would launch Zara online in the US from September, with the rest of its brands online in selected European markets.