|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||13.09 - 13.31|
|52-week range||10.13 - 18.00|
|Beta (5Y monthly)||0.93|
|PE ratio (TTM)||20.43|
|Forward dividend & yield||0.49 (3.70%)|
|Ex-dividend date||31 Oct 2019|
|1y target est||39.92|
Zara owner Inditex unveiled a 2.7 billion euro ($3 billion) investment in technology on Wednesday to make it easier for customers to track the items they want, blurring the lines between online and in-store shopping. The technology will be rolled out across Inditex's stores over the next three years, a company spokesman told Reuters. One billion euros of the investment is earmarked for a proprietary technology platform, the company said.
Zara owner Inditex booked its first loss as the coronavirus crisis forced it to shut most shops but its shares rose after it unveiled a 2.7 billion euro ($3.1 billion) plan to accelerate its focus on large stores and online sales. Inditex, the cash-rich owner of fashion brands like Massimo Dutti and Bershka, said the rapid drop in sales had slowed, with sales at constant currencies falling 34% in the June 2-8 period over a year earlier, versus a 51% slide in May. Despite tumbling sales, inventories still fell by the end of the February to April first quarter compared to a year ago, underscoring Inditex's ability to respond to demand.
Retailers selling fashion online are emerging as the winners of the coronavirus crisis as consumers are staying home even as stores start to reopen, results from major companies showed on Thursday. Shares in Zalando, Europe's biggest online-only fashion retailer, jumped 11% to a new record high after it said it expects full-year sales growth of 10-20%. RBC analyst Sherri Malek said the fact Zalando had added 39% more new customers in April was "evidence of the accelerated consumer shift from offline to online".
A group of employers' organisations, unions and major brands in the garment industry are working with the International Labour Organisation (ILO) to support manufacturers affected by the coronavirus outbreak, the ILO said on Wednesday. Under the agreement, brands and retailers commit to paying manufacturers for finished goods and goods in production, the organisation said in a statement.
Employees at global fashion giant Inditex's 10 logistics centres in Spain - from where it sends garments to its stores worldwide - returned to work on Monday but only to less than half their normal levels of activity, workers said. Meanwhile, just three of Inditex's 13 Spanish factories were back at work, making medical supplies like scrubs to help fight Spain's coronavirus crisis, with no garments being made for now for brands like Zara and Bershka, a union representative said. Spain loosened on Monday the terms of a strict lockdown, brought into force to halt the spread of one of the deadliest outbreaks of the virus worldwide, allowing non-essential workers to return to their jobs after a two-week hiatus.
Inditex has switched its clothes factories in Spain over to making medical supplies and its logistics hub has almost ground to a halt, effectively freezing the nerve centre of its business from which it supplies stores worldwide. Inditex, the owner of brands including Zara, Massimo Dutti and Bershka, said in its annual results on March 18 that it had temporarily closed 3,785 stores worldwide.
You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com) and Julien Ponthus (firstname.lastname@example.org) in London. After the recovery in oil prices and the surprise expansion in Chinese factory activity revived confidence in equity markets, European bourses had a nice run this morning and even if later shares struggled to find a direction, they ended the day well on the black though. The pandemic has led Europe into a financial crisis which threatens to morph into a replay of the 2010 sovereign debt crisis which had the very existence of the euro zone at stake.
You can share your thoughts with Thyagaraju Adinarayan (email@example.com), Joice Alves (firstname.lastname@example.org) and Julien Ponthus (email@example.com) in London. Morgan Stanley believes earnings numbers on European retailers are now irrelevant and cash is becoming king instead.
Inditex, the owner of fashion chain Zara, may temporarily lay off all 25,000 of its store staff in Spain if the country's state of emergency extends beyond April 15, in what would be one of the largest such moves in Europe due to the coronavirus outbreak. Employees in logistics, central services and manufacturing would not be affected, a company official who declined to be named said on Friday. Inditex's headquarters in northern Spain are the nerve centre of the retailer's operations.
Zara owner Inditex, whose polka dot dress was a high-street sensation in 2019, may soon be stitching hospital scrubs, helping its home country Spain fight the coronavirus epidemic, the company said on Wednesday. Inditex <ITX.MC>, which earlier on Wednesday said the epidemic had shut nearly half its stores around the world, said it was studying converting part of its textile manufacturing capacity in Spain to produce hospital gowns. It also said it would make available to Spain its vast logistics and supplier network, especially in China, to "meet Spain's emergency needs of both medical and textile materials" such as protective masks, gloves, goggles and caps.
Zara-owner Inditex said on Wednesday the coronavirus pandemic had dealt a significant blow to its business, with sales in the first two weeks of March plunging 24.1% and nearly half its stores temporarily closed around the world. Inditex is one of the biggest dividend payers amongst retailers, paying out 2.7 billion euros to shareholders last year. Retailers like Nike Inc , Urban Outfitters Inc and Under Armour Inc have closed stores globally as they try to limit the spread of the coronavirus.
Zara owner Inditex <ITX.MC> is to temporarily close all of its stores in Spain from Saturday because of the coronavirus, Europa Press said, citing sources at the company. A company spokesman told Reuters on Friday it would temporarily close stores in areas designated by the government as the worst-affected by the coronavirus outbreak, including Madrid. Spain is the fashion retailer's largest network of stores by far, accounting for about a sixth of group sales.
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* U.S. futures flat with focus on tariff deadline, Fed Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Who will win tomorrow's UK election?
* U.S. futures flat with focus on tariff deadline, Fed Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Granted, there's currently a little feeling of unease creeping inside the UK midcap space while we wait for the polls to open on Thursday. Another asset telling us that the consensus is discarding a hung parliament is gold.
* U.S. futures flat with focus on tariff deadline, Fed Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. It's bloodbath in the FTSE midcap index mainly led by stocks exposed to the domestic economy and all thanks to yesterday's opinion polls which planted worries of a hung parliament among investors. The recent rally in housebuilders, domestic retailers and banks are all reversing a bit today with sterling, raising concerns that if Conservatives fall short of a majority tomorrow, this could unravel a fresh downside for those sectors and pound.
* U.S. stock index futures lower Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. UK HUNG PARLIAMENT – WHAT IF? The latest YouGov poll showing that the UK election race has tightened markedly has raised the spectre of a hung parliament - a scenario that many believe is the worst one because it would drag out even further that Brexit uncertainty that has already caused a massive outflow from UK equities.
* U.S. stock index futures lower Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Global growth will edge up in 2020 giving some relief to investors and pushing away recession risks: This is the outlook for next year from BlackRock. "Even though it's not a massive growth that is pencilled in, it is very important for markets because it will take away concerns about a recession being around the corner," Elga Bartsch, head of macro research at BlackRock Investment Institute, told reporters.
Inditex, owner of fashion chain Zara, shrugged off malaise affecting the broader apparel sector to post strong profit growth on Wednesday and forecast full-year same-store sales of up to 6%. At a time when fashion retailers are struggling to adapt to changing shopping habits, Inditex has benefited from its ability to quickly deliver small batches of the latest designs to consumers due to its fast and flexible sourcing arrangements. The Spanish retail giant reported a net profit of 1.17 billion euros ($1.3 billion) for the third quarter - slightly above analysts' expectations and up 14% from the year-ago period.
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