ITX.MC - Industria de Diseño Textil, S.A.
| Previous close | 31.24 |
| Open | 31.31 |
| Bid | 31.45 x N/A |
| Ask | 31.46 x N/A |
| Day's range | 31.15 - 31.57 |
| 52-week range | 20.53 - 32.10 |
| Volume | |
| Avg. volume | 3,839,467 |
| Market cap | 97.864B |
| Beta (5Y monthly) | 1.08 |
| PE ratio (TTM) | 23.65 |
| EPS (TTM) | 1.33 |
| Earnings date | 07 Jun 2023 |
| Forward dividend & yield | 0.39 (1.25%) |
| Ex-dividend date | 31 Oct 2023 |
| 1y target est | 27.54 |
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- Reuters
Spain's Tendam hands Russian shops to Belarusian company
Spanish fashion group Tendam will reopen its stores in Russia through a Belarusian company, its CEO told Reuters on Tuesday, following the model of Mango which transferred its stores to Russian franchisees last year. Spain's third-largest fashion retailer has kept its 19 stores in Russia closed since March last year, alongside many Western companies that suspended operations in response to Russia's invasion of Ukraine and ensuing sanctions imposed by the European Union and United States on Moscow. Tendam agreed in March with Belarusian company ALC Belvirineja to hand over its business in Russia under a franchise agreement, Tendam CEO Jaume Miquel told Reuters in an interview on the sidelines of the World Retail Congress in Barcelona.
ReutersRetailers to tackle sustainability at key conference
Global fashion retailers gathering in Barcelona this week will discuss how they respond to pressure from regulators and consumers to move to more sustainable models while reversing declining sales in Europe. Executives from companies including Chinese fast-fashion retailer Shein, Spain's Mango, and Ireland's Primark are among those attending the World Retail Congress, one of the industry's biggest annual conferences. They will discuss the challenges facing their businesses as inflation causes consumers in Europe and elsewhere to reduce spending.
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ReutersMoscow approves sale of Inditex's Russian business to UAE-based buyer
The Russian government on Wednesday said it had approved a deal for Spain's Inditex to sell its Russian business to a UAE-based buyer, with some of its former stores to reopen under new branding in April and May. Inditex shuttered its more than 500 Russian stores after Moscow sent troops into Ukraine, and agreed to sell them in October, although small-scale imports and online sellers are helping to keep Inditex's brands alive in Russia. Inditex did not immediately respond to a request for comment.
ReutersIn the background, Inditex heiress sets tone for Zara revamp
A year into chairing the world's biggest fashion retailer, Marta Ortega is trying to shake up Zara owner Inditex's fast-fashion image and draw in more aspirational shoppers, according to analysts and investors. That strategy has already helped Inditex grow sales and profits as the retailer passed on higher costs to consumers through price increases. Inditex completed a leadership reboot and generational handover when Ortega, the youngest child of founder Amancio Ortega, became non-executive chair on April 1 last year, just a few months after Oscar Maceiras took over as CEO.
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ReutersZara owner Inditex's Americas profits surge as China slips
Asia was an outlier for Zara owner Inditex last year, the only region where profits fell as China faced COVID-19 lockdowns, while profit ballooned in the Americas, the fashion retailer's annual report showed on Thursday. Inditex, the world's biggest fashion retailer, reported record annual sales on Wednesday. It has been expanding in the United States and downsizing in China, which in 2019 was its second-biggest single market after Spain, delivering 8% of the group's pre-tax profit.
PA Media: MoneyZara parent firm Inditex posts jump in profit as shoppers return to stores
The world’s largest fashion group revealed that earnings increased by a fifth to 8.6 billion euros (£7.6 billion) in 2022.
ReutersEuropean shares clock worst day in a year, Credit Suisse hits new record low
(Reuters) -European shares on Wednesday had their worst day in over a year as a selloff in bank stocks resumed on renewed investor concerns about stresses within the sector, with Credit Suisse plunging to a fresh record low. The pan-European STOXX 600 index closed the day 3% lower, a day after recording its best day this year. Efforts by regulators and financial executives to assuage contagion fears following tech-focused lender Silicon Valley Bank's sudden collapse have failed to calm investors' nerves.
ReutersBuoyant Zara owner Inditex invests in tech and U.S. expansion
A CORUÑA, Spain (Reuters) - Zara owner Inditex's spring-summer 2023 collection has flown off the shelves over the past six weeks, the fast-fashion retailer said on Wednesday, in a sign that sales are keeping pace after a strong 2022. Inditex has extended its lead over Swedish rival H&M, in part thanks to a less price-sensitive customer base. As the cost of making garments increased, H&M took a profit hit while Inditex was able to pass on costs to shoppers.
- Investing.com
Zara owner Inditex reports surge in annual profit as sales hit record high
By Scott Kanowsky
ReutersZara owner Inditex seen outshining H&M in fast-fashion showdown
Zara owner Inditex will go head-to-head with Sweden's H&M on Wednesdsay when the world's biggest fast fashion retailers release their respective results, competing to attract shoppers while managing surging energy, labour, and shipping costs. Both H&M and Inditex have been forced to hike their prices as the cost of producing garments increased, but Inditex - whose other brands include Massimo Dutti, Pull & Bear, and Oysho - has been better able to keep selling clothes at higher prices. "Inditex has better ability to pass on price increases as its customer base is less price-sensitive, while H&M is in more direct competition with the cheaper players like Shein," said Nicolas Champ, retail sector analyst at Barclays in Paris.
ReutersAt the home of Zara, fast and slow fashion collide
In Spain's A Coruna, two contrasting fashion business models collide - pitching the growing demands for the clothing industry to become more sustainable against the constant need to drive sales. This rainy, windswept, city on the rugged Atlantic coast is the unlikely headquarters of Zara-owner Inditex - the world's biggest fast fashion retailer. It also hosts small boutiques offering high quality, durable products that consider themselves an alternative to the fast and affordable fashion propelling Inditex's annual sales of 28 billion euros ($30 billion).
ReutersTop brands pull out of Russia, but their goods remain easy to find
Trucks carrying Coca Cola roll across the border into Russia, tourists return from abroad laden with Zara's latest designs, and local online marketplaces snap up IKEA's furniture stocks. Despite European, North American and Japanese companies exiting Russia over its actions in Ukraine, the impact on Russian consumers is minimal, although delivery times can be longer and some goods more expensive. Brands' continued availability shows the challenge companies face in controlling supply chains when exiting a market.
- Reuters
Spanish businesses worry retail sector pay hikes could fuel inflation
Global fast fashion giant Inditex and a few other Spanish retailers have granted their workers significant pay hikes, prompting calls for caution from the wider business sector which fears blanket moves could further stoke inflation. Zara owner Inditex's announcement on Thursday of a whopping 20% pay rise for all its shop workers in Spain followed two blanket wage raises of 6.5% and 5.7% in 2022 and 2023 at the country's largest supermarket chain Mercadona, and a general 12% increase at its smaller rival Dia. Meanwhile, labour unions are discussing two-digit raises with other supermarkets and department stores.
ReutersZara owner Inditex's 20% Spanish staff pay hike hits shares
MADRID (Reuters) -Inditex's shares slid on Friday after the world's biggest fast fashion retailer agreed an inflation-beating 20% rise in average wages for shop workers in the Zara owner's home market of Spain. Spain's two largest unions, CCOO and UGT, announced the pay increase late on Thursday, with UGT saying salaries were set to rise by as much as 40% in some parts of the country. Inditex shares fell by as much as 4.7% on Friday after the news.
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ReutersZara starts charging for clothing returns from home in Spain
Fashion giant Zara has started charging shoppers in Spain for returns of online purchases, the company announced on Wednesday, though store returns remain free. However, items bought online can still be returned for free at physical stores, it added. As the COVID-19 pandemic sparked a boom in online shopping, customers became used to buying items to try at home since returns were often free, which raised costs for retailers.
ReutersUnions want Zara owner Inditex to extend pay rises to all shopworkers in Spain
Trade unions are asking Zara owner Inditex to give all workers at its stores in Spain the pay rises and benefits recently agreed between the retailer and shop assistants in its northern Spanish hometown, two union leaders said on Thursday. In December regional union CIG said around 1,000 workers at Zara shops and other Inditex brands in A Coruna, where the fashion giant has its headquarters on the city's outskirts, would receive 25% higher salaries this year following a strike during the 'Black Friday' sales rush on Nov. 24-25. Spain's two largest unions, CCOO and UGT, which represent more than half of the workforce at Zara shops in the country, have now kicked off negotiations with Inditex to extend the pay rises and benefits to all shop assistants working for the company in Spain.
The GuardianLidl, Zara’s owner, H&M and Next ‘paid Bangladesh suppliers less than production cost’
Survey of 1,000 factories for campaign group claims many cut rates in pandemic and have not increased them since
IPO-Edge.comFollow Carbon-Capture Wave with LanzaTech Transforming Jet Fuel to Fashion
LanzaTech merging with SPAC called AMCI Acquisition Corp. II (Nasdaq: AMCI) Technology traps carbon emissions and uses bacteria to convert waste gas into sustainable chemicals such as ethanol Global ethylene […]
ReutersZara shopworkers call off strikes in company's hometown after 25% pay rise - union
MADRID (Reuters) -A union representing shop assistants at fashion retailer Zara has called off planned strikes in the company's hometown in northern Spain following an agreement on a 25% pay rise, a union leader said on Friday. Around 1,000 workers at Zara shops and other Inditex fashion brands had announced they would strike on Dec. 23 and Jan. 7 to demand higher wage increases after rejecting the company's previous offer. Inditex has now agreed to pay 322 euros ($341) more per month to shop assistants who work at its 44 stores in A Coruña, where the fashion giant has its headquarters on the city's outskirts, CIG union leader and Zara retail assistant Carmiña Naveiro said on Friday.
ReutersH&M agrees to pay a 500 euro bonus to 4,000 workers in January
MADRID (Reuters) -Swedish fashion retailer H&M will pay a 500 euro ($530) bonus to some 4,000 shop workers in Spain and Portugal next month, it said on Wednesday, after its arch-rival Inditex offered 1,000 euros to its home country shop assistants. The world's biggest fashion retailers are responding to demands from their workers for higher pay to offset soaring consumer prices. H&M's one-off payment was agreed with two of Spain's largest labour unions, UGT and CCOO, the same ones who reached an agreement with Inditex last month.
