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H&M and Inditex sign new factory safety accord in wake of Bangladesh factory collapse Monday, 13th May 2013
H&M’s store at the Gran Vía in Madrid. Inditex and Hennes & Mauritz, the world’s biggest fashion retailers, have signed a new accord aimed at improving the safety of factory workers and their rights. As the fatalities reach above 1,100 people following the collapse of the Rana Plaza in Savar, Bangladesh, Zara owner and H&M have both signed a new five-year agreement to improve fire and building safety for workers.
Zara to expand with nine new stores a week Thursday, 14th March 2013
Inditex plans to open nine Zara stores a week in the year to come. It looks like Zara is set for an all-systems-go expansion as owner Inditex plans to open nine new stores a week for its flagship brand in the coming year. The Times on Thursday revealed Zara will continue to pursue its heady pace of store expansion which in 2011 saw it debut in both the Australian and South African markets.
HMV expected to sell its flagship Oxford Street store Thursday, 7th February 2013
Photo Credit: My Retail Media. Hilco, the restructuring firm that took control of HMV after buying its debts earlier this month, reportedly intends to sell the music and film retailer’s flagship store in Oxford Street. It is expected that the store will be sold as part of Hilco’s attempts cut costs by greatly decreasing the number of HMV outlets nationwide.
H&M reports unexpected fall in Q4 profits Wednesday, 30th January 2013
Hennes & Mauritz has reported an unexpected fall in quarterly profits as the retailer made a number of “necessary and wise” long-term investments in its operations. As the world’s second-biggest apparel group, H&M has come under pressure to compete with leader Inditex in the race for market share as both expand globally.
Inditex suspends links with Spanish suppliers after Bangladesh fire Monday, 28th January 2013
The world’s largest fashion group on Sunday announced it would stop working with two of its subcontractors after Bangladeshi officials reported finding clothes with its labels on in the wreckage of a garment factory fire. "Inditex has suspended links with Spanish supplier Wonnover and its Bangladeshi sub-contractor Centex as a precautionary measure," a spokesman for Inditex told Reuters.
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.
Deutsche Bank upgrades Alhokair to buy Wednesday, 10th October 2012
Deutsche Bank has upgraded Alhokair to buy, as impressive growth and untapped potential make it the ’top pick’ among Saudi retailers. The Saudi Arabian franchise operator, who counts Marks & Spencer, Inditex, Gap and Superdry amongst its joint venture partners, has been racking up an aggressive expansion rate in the Middle East and CIS region.