retail sector


Spanish Zara owner Inditex’s sells more, yet earns less

MADRID | The Corner | The world’s largest clothing retailer Inditex posted a net benefit of €928 million in the first fiscal semester (February 1 to July 31), 2.4% less than a year before due a strong euro, new store openings and renovation costs. And yet, it managed to incresase sales at its more than 6,400 stores rose 5.6 percent to €8.1 billion. The firm, which has outperformed many of its rivals during the economic crisis, will share a dividend of €0.242 euros on Nov 3. 

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UK high streets need government funds as customers still paying for Christmas

LONDON | It might prove to be a time bomb for British high streets: one in five people aged between 18 and 44 are still trapped in debt they incurred in to cover consumption last Christmas. Research from Halifax shows that 14% of people are still paying for Christmas either on a credit card, through their overdraft or via a loan. However, fewer of the older generation are in the red…