MADRID | The Spanish group opened 360 stores so far in 2012, boosting the worldwide total to 5,887 stores in 86 markets. Store sales in constant currency terms rose by 15% between 1 August and 9 December.
Spain’s Inditex has opened the first Massimo Dutti store in the US, which also is the largest of that brand–it has 600 worldwide. It was launched online, too.
The Spanish Group approached the €1 billion net profit mark in the first six months of the year, surpassing analysts expectations. Although growth comes from non-domestic demand, investment in Spain will reach €450 million.
Esprit Holdings Limited on Tuesday announced the appointment of José Manuel Martínez Gutiérrez as its new group chief executive officer and executive director. Martínez will effectively be seating at his new desk by October 2012. The language used by Esprit to inform about the move spoke of the tall hopes the retail company has deposited on Martínez’ shoulders: “We are delighted that Mr. Martínez, a professional with a wealth of…
MADRID | Inditex announced this week it signed a letter of intent for the acquisition of 300,000 square metres in Cabanillas, Guadalajara (Spain) in order to expand its logistics capacity. The project is set within the plans of the group’s investment in its facilities in Spain detailed by the chairman Pablo Isla during the general meeting of shareholders held on July 17. Initially, a 70,000 square metre platform for logistics activities is…
MADRID | The Inditex Group announced this week that it would completely absorb the increase in VAT from 18% to 21% that the Spanish government will carry out as one of its austerity measures to sustain the State's levels of income. But Inditex said it would not increase the prices of its products. In fact, this counter-price policy will extend to all of the Inditex Group’s chains, from Zara, to Pull&Bear, Massimo…
How to make wife jealous LONDON | Inditex confirmed it has acquired the premises of Zara flagship store at the intersection of Oxford and New Bond streets in London, one of the top fashion retailing destinations worldwide. The 7,000-square-metre property is home to one of the most emblematic Zara stores in the world. The building has 3,155 square metres of prime retail space and 3,855 square metres of prime office…
MADRID | The Inditex Group reported Wednesday net sales in the first quarter of 2012 February to April of €3.4 billion, 15% higher year-on-year (14% in local currencies). Net income amounted to €432 million, 30% more than in the first quarter of 2011. The Spanish company said it had opened 91 new stores during the quarter, bringing the total store base to 5,618. The new stores were opened in 26 markets. In a…
The Spanish Inditex Group reported that its newest retailer launched uterque.com, an online store to shoppers in Belgium, the Netherlands and Austria. These three markets add to six more online operations active in European countries. The new online shops went live in April and, as is customary, they offer the same range of merchandise as that found in high street stores, along with the same policy on returns and exchanges….
MADRID | Morgan Stanley in Madrid released an investor note on Tuesday with some recommendations, and we spotted a couple of Spanish companies (always on the bright side, we know…) “We propose the following basket of 64 stocks (Nifty Fifty +) with the intent to replicate the behaviour on the original list (Nifty Fifty) for the years 60/70 in the U.S. “The criteria we used for this stock selection exercise are:…