Inditex, which also owns Bershka, Pull & Bear and other brands, said sales at constant currencies between August 1 and September 11 were 14% higher than a year earlier, showing that the pace of summer sales continues as autumn collections start to arrive.
Baby products retailer Mothercare Plc said on Friday Chief Executive Officer Daniel Le Vesconte has stepped down, effective immediately, after just five months at the helm. The departure comes a month after the London-listed company said it had begun discussions with its lender to change, renegotiate, or refinance its debt facility due to higher interest rates, warning that it may need waivers to future covenant tests.
Zara owner Inditex (ITX.MC) said on Wednesday sales of its spring-summer collection gathered pace to jump 16% in May, as the retailer mitigates higher wage costs and keeps customers onside during a cost of living crisis. The world's biggest fast fashion company reported a better-than-expected 54% rise in net profit of 1.2 billion euros ($1.24 billion) for the first quarter that ended in April, exceeding analysts' average expectations of 980 million euros in a Refinitiv poll.
Zara-owner Inditex enjoys strong start to summer cyprus-mail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cyprus-mail.com Daily Mail and Mail on Sunday newspapers.
LONDON, June 7 Zara owner Inditex said today sales of its spring-summer collection jumped by 16 per cent over the past month, maintaining its strong run despite higher wage.