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Zara owner Inditex misses Q1 sales estimates despite growth

Retail Gazette

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 net profit of €1.31bn (£1.16bn), up marginally year-on-year. Zara owner Inditex reported a 1.5%

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Zara owner Inditex eyes UK expansion of budget label Lefties

Retail Gazette

Inditex has been increasing investment behind its Lefties brand for the last couple of years in a bid to compete with its rapidly growing fast fashion rivals such as Shein. It comes after the Spanish fashion giant saw first quarter sales edge up 1.5% and delivered a net profit of £1.16bn, up marginally year-on-year.

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Shein files Hong Kong listing to revive stalled London float

Retail Gazette

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.

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The end of US de minimis to shake up e-commerce industry 

Inside Retail

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 net profitability.

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Analysis: How a global move to end tax breaks could impact Shein’s IPO

Inside Retail

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 fast fashion retailer’s long-term attractiveness ahead of its planned stock market debut, investors who focus on the sector said. per cent of sales.

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Analysis: a perfect retail storm is brewing

Inside Retail

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, net profits declined. per cent decline in net profit after tax.

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Inditex joins growing exodus of western brands from China

Inside Retail

While Inditex recorded growth across most of its geographic markets with revenue and net profit 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.