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rise in first-quarter sales to €8.27bn (£7.3bn), falling short of analyst expectations of €8.36bn, as the fast-fashion giant faces a more cautious consumer environment. and delivered a netprofit of €1.31bn (£1.16bn), up marginally year-on-year. Zara owner Inditex reported a 1.5%
Inditex has been increasing investment behind its Lefties brand for the last couple of years in a bid to compete with its rapidly growing fastfashion rivals such as Shein. It comes after the Spanish fashion giant saw first quarter sales edge up 1.5% and delivered a netprofit of £1.16bn, up marginally year-on-year.
The fast-fashion giant, which was founded in China but is now headquartered in Singapore, confidentially submitted its draft prospectus to the Hong Kong Stock Exchange last week, according to multiple reports. Related Story The Shein effect: Is fashion stuck in a race to the bottom? That filing has now been made official.
Industry experts said retailers that have benefited from de minimis now face a critical choice: pass on the additional costs to consumers, potentially eroding their competitive pricing and market share, or absorb the costs internally, hurting their netprofitability.
Moves by authorities in the European Union and elsewhere to end tax breaks for low-value parcels threaten Shein’s profitability and risk denting the fastfashion retailer’s long-term attractiveness ahead of its planned stock market debut, investors who focus on the sector said. per cent of sales.
We predict retailers in the fast-fashion apparel and footwear sectors within consumer discretionary goods could face significant headwinds over the next few months. Despite some retailers reporting strong sales because of the growth in online sales, netprofits declined. per cent decline in netprofit after tax.
While Inditex recorded growth across most of its geographic markets with revenue and netprofit increasing 36 per cent and 80 per cent, respectively, in China – where 67 stores were affected by Covid-19 restrictions – the Spanish retailer experienced the reverse fortune.
H&M and LVMH target very different sectors of the fashion industry. The former, a fastfashion giant based in Sweden, saw a slump in fourth quarter earnings, with its operating profits falling by 87 per cent year on year, and its netprofit declining by about 68 per cent.
Shein is preparing to start early, informal investor meetings in the coming weeks for its planned London initial public offering (IPO), as the fastfashion giant steams ahead with preparations as it awaits UK regulatory approval. The Shein share offering would provide a much-needed lift to London’s sluggish IPO market.
In what the Stockholm-headquartered multinational fast-fashion retailer described as a “strong recovery” H&M increased its netprofit nearly seven-fold to US$1.5 H&M grew its online business by 24 per cent last year to the point e-commerce now accounts for about one-third of its total sales.
Zara owner Inditex beat expectations as its half-year profits surged 40% in what the world’s biggest fashion company called a “very robust operating performance”, despite slowing the pace of its price increases. Click here to sign up to Retail Gazette‘s free daily email newsletter
Sheins profits plunged by more than a third last year in a fresh blow to its highly anticipated flotation on the London Stock Exchange. Netprofit for the fastfashion giant plummeted by almost 40% to 789m ($1bn) in 2024 following a difficult final quarter and rising competition from rival Temu, The Financial Times reported.
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