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Industria de Diseño Textil, S.A. (IDEXF)

Other OTC - Other OTC Delayed Price. Currency in USD
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39.60-0.05 (-0.13%)
As of 2:16PM EDT. Market open.
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Neutralpattern detected
Previous Close39.65
Open38.95
Bid0.00 x 0
Ask0.00 x 0
Day's Range37.20 - 39.60
52 Week Range24.52 - 41.30
Volume41,706
Avg. Volume17,857
Market Cap120.178B
Beta (5Y Monthly)1.19
PE Ratio (TTM)91.24
EPS (TTM)0.43
Earnings DateN/A
Forward Dividend & Yield0.68 (1.71%)
Ex-Dividend DateOct 29, 2021
1y Target EstN/A
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  • Reuters

    UPDATE 2-Mexico accuses Zara, Anthropologie & Patowl of cultural appropriation

    Mexico has accused international fashion brands Zara, Anthropologie, and Patowl of cultural appropriation, saying they used patterns from indigenous Mexican groups in their designs without any benefit to the communities. Mexico's Ministry of Culture said in a statement Friday that it had sent letters signed by Mexico's Culture Minister Alejandra Frausto to all three global companies, asking each for a "public explanation on what basis it could privatize collective property."

  • Reuters

    Mexico accuses Zara, Anthropologie & Patowl of cultural appropriation

    Mexico has accused international fashion brands Zara, Anthropologie, and Patowl of cultural appropriation, saying they used patterns from indigenous Mexican groups in their designs without any benefit to the communities. Mexico's Ministry of Culture said in a statement Friday that it had sent letters signed by Mexico's Culture Minister Alejandra Frausto to all three global companies, asking each for a "public explanation on what basis it could privatize collective property."

  • Bloomberg

    Zara Stores to Close in Venezuela as Inditex Brands Exit

    (Bloomberg) -- The franchise operator of Zara and two other popular apparel chains will close all of its stores in Venezuela in the next few weeks.Zara, along with Pull&Bear and Bershka, are owned by Spain’s Inditex SA and have been operating as franchises in Venezuela since 2007. The franchise is managed by Panamanian-based company Phoenix World Trade, run by Camilo Ibrahim.The three retail brands have already gradually shut down outlets in Caracas malls, with some displaying new logos and names followed by the words “coming soon.”“Phonex WT is re-evaluating the commercial presence of its franchised brands Zara, Bershka and Pull & Bear in Venezuela to make it coherent with the new digital integration and transformation model announced by Inditex,” Operations Director Andres Brant said in an email statement. “Meanwhile, the five stores that remain open under the previous model will cease to operate in the next few weeks.”Inditex franchises in Aruba and the Dominican Republic, which is also run by Phoenix, will continue to stay open, Brandt added.Inditex declined to comment.The move came as the Venezuelan government increases efforts to draw foreign investment back into the country by effectively ending years of socialist policies. Sieged by U.S. sanctions, the Nicolas Maduro administration has allowed the country to slide into a de facto dollarization since 2019, offering private companies some breathing room to operate.Inditex entered the Venezuelan market in 1998, first managing the retail stores directly and then under a franchise model. The franchise navigated years of exchange and price controls that often led them to temporarily close stores due to a lack of merchandise.The brands were highly popular among Venezuelans, who used to line up outside the stores to shop whenever the government forced to draw prices down or allowed the company to import merchandise at the subsidized, official exchange rate.Venezuelans Swarming Zara Gives New Meaning to Fast Fashion More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Zara owner Inditex to close all stores in Venezuela, local partner says
    Reuters

    Zara owner Inditex to close all stores in Venezuela, local partner says

    Inditex, owner of brands including Zara, Bershka and Pull & Bear, will close all its stores in Venezuela in coming weeks as a deal between the retailer and its local partner Phoenix World Trade has come under review, a spokesperson for Phoenix World Trade said. Phoenix World Trade, a company based in Panama and controlled by Venezuelan businessman Camilo Ibrahim, took over operation of Inditex stores in the South American country in 2007. "Phoenix World Trade is re-evaluating the commercial presence of its franchised brands Zara, Bershka and Pull&Bear in Venezuela, to make it consistent with the new model of integration and digital transformation announced by Inditex," the company said in response to a Reuters request.

  • Hedge Fund Picks at Sohn 2020 Show Perils of Covid Investing
    Bloomberg

    Hedge Fund Picks at Sohn 2020 Show Perils of Covid Investing

    (Bloomberg) -- To say investing is tricky during the pandemic would be an understatement. And so it has proved for many hedge-fund managers since last year’s Sohn Investment Conference in Hong Kong.Among those who made investment calls at the September event, Quintessential Capital Management’s Gabriel Grego was a winner after vouching for Japan’s Sun Corp., which owns an Israeli cybersecurity firm that’s going public via one of the trends of the times: a SPAC. Asia Research & Capital Management’s Alp Ercil cashed in on a rally in lower-rated investment-grade bonds issued by U.S. energy companies that were sold off in the March 2020 rout.Read a TOPLive blog on the 2021 eventMeanwhile, some bearish bets have flopped, as stock markets continue to rise on the back of unprecedented global economic stimulus. Anatole Investment Management’s George Yang made a short call against Zara parent Inditex SA, only to see the stock soar. Egerton Capital’s Jay Huck expected similar declines from Arista Networks Inc., which benefited from the migration to cloud computing.The coronavirus is still taking a toll even as vaccines are rolled out in many markets. Eurizon Asset Management’s Sean Debow touted India’s rising consumer, only to see the tragic wave of Covid-19 cases there disrupt spending.As hedge fund managers gather again for this year’s conference on Thursday, held virtually for a second year in a row, here’s a look back on some of last year’s picks. And to put things in context, the S&P 500 index has climbed 21% since the previous event on Sept. 9.Gabriel Grego, Quintessential Capital ManagementThe call: Sun, a Japanese company with a majority stake in Israeli cybersecurity provider Cellebrite, was a buy thanks to its high cash, low debt, proprietary technology and friendliness toward activist investors.Did it pay off? Yes. Sun has gained more than 50% since last year’s conference, thanks in part to Cellebrite’s plan to go public via a special purpose acquisition vehicle. Grego said he bought in at around 1,400 yen a share and its intrinsic value is about 7,000 yen, more than double the current price. Much depends on how much Cellebrite stock Sun will keep after the listing and what the pachinko parts maker does with the windfall. But he says Sun could herald a gentler brand of shareholder activism in Japan. “It’s perhaps less smart to go through a very confrontational way like you do, say, in the U.S.”Alp Ercil, Asia Research & Capital ManagementThe call: Lower-rated, longer-duration U.S. investment-grade bonds could gain as much as 30%, should spreads narrow to pre-Covid levels, the founder of the Hong Kong-based distressed-asset manager said. At the time of last year’s conference, unprecedented central bank stimulus had driven significant spread compression for A-rated U.S. corporate debt following a March rout. The same hadn’t yet happened for lower-rated paper.Did it pay off? Yes. ARCM bought a basket of such debt maturing beyond 2045, issued by U.S. energy companies Apache Corp., Energy Transfer LP, Hess Corp., MPLX LP and Plains All American Pipeline LP. Their spreads have narrowed 120 basis points to 170 basis points since last year’s conference, giving the basket a roughly 27% return, said people with knowledge of the matter. ARCM has largely exited those positions, the people added.Nancy Yang, CloudAlpha CapitalThe call: KE Holdings has what it takes to become the dominant player in the housing technology market, Yang said. She estimated the Chinese real estate platform could be worth $136 billion in three years and $200 billion long term. China’s housing market was getting more challenging as it went through structural changes, and KE could benefit as intermediaries play a meaningful role, she said.Did it pay off? Initially. The stock surged 67% to a Feb. 22 high but has since given back most of the gains, and is up about 10% since last year’s conference. The investment thesis for the company and KE’s competitiveness remain unchanged, CloudAlpha said in a statement. It attributed the recent retreat to “change in the macro environment and market risk appetites in recent months,” without elaborating.Seth Fischer, Oasis ManagementThe call: Hazama Ando Corp. was one of the most compelling opportunities in Japan, said Fischer, who urged the civil engineering company to spend some cash to buy back shares and improve its return on equity. Loaded with cash, it was “financially ridiculous” but not a value trap, he said. It has a backlog of high-margin infrastructure projects, steady income and a good balance sheet.Did it pay off? Yes. Hazama Ando announced in November a plan to repurchase 9.3% of its shares for 10 billion yen. That was just shy of the 10% Oasis pressed it to buy back in May 2020. The builder’s shares have gained 20% since last year’s conference.Sean Debow, Eurizon Asset ManagementThe call: India’s rural consumers adding wealth and adopting big-city consumption trends like natural health therapies were a driver for Debow, chief executive officer at Eurizon Asset Management in Asia. He touted six stocks including including Hindustan Unilever Ltd., Britannia Industries Ltd. and Dabur India Ltd., betting they would benefit from the country’s rising middle class.Did it pay off? Partly. Some consumer stocks have shown resilience even as Covid-19’s spread through India wreaked havoc on spending habits. Hindustan Unilever and Dabur India have climbed at least 9% since September, though they trail the benchmark Sensex’s 31% gain, while food and beverage-maker Britannia fell about 5%.George Yang, Anatole Investment ManagementThe call: Shares of Inditex, the parent company of Zara, could fall as much as 60%. The fast-fashion retailer was becoming a legacy player, cannibalized by online, data-driven rivals, especially in China.Did it pay off? No. Inditex has surged about 40% since Sept. 9, as flexible purchasing agreements helped the world’s largest clothing chain operator adapt to changes in demand. While the pandemic forced it to shut some stores temporarily, it expanded selling online. Yang is sticking to his conviction, saying Inditex was riding high as investors piled into companies that could benefit from the economy reopening theme. “Its fundamentals are unimpressive and eventually getting much worse,” said Yang.Jay Huck, Egerton CapitalThe call: Huck said cloud networking provider Arista Networks was far too reliant on Microsoft Corp. and Facebook Inc., with both choosing open source systems that could slash its service revenue. That, combined with rising competition and an unsustainable multiple, led Egerton to set a target price of $150, he added.Did it pay off? No. Arista’s shares have climbed more than 50% since September to over double Huck’s target price. Employees across industries around the world were forced to work from home thanks to Covid-19, leading to surging demand for Arista’s equipment and services as cloud computing providers added capacity. Revenue jumped to a record last quarter.(Updates share price moves)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Topshop's empty Oxford Street premises on sale for £420m
    Yahoo Finance UK

    Topshop's empty Oxford Street premises on sale for £420m

    Potential buyers of the long leasehold might include H&M billionaire Stefan Persson's shell Rabsbury, Norges, Pontegadea and the property business owned by Zara founder Amancio Ortega.

  • Why Zara’s Owner Should Be on Investors’ Shopping List
    Barrons.com

    Why Zara’s Owner Should Be on Investors’ Shopping List

    Inditex, the world’s largest fashion retailer, has an inventory management system that is helping drive down costs and increase profit margins.

  • Exclusive: Investors press companies on human rights in Xinjiang
    Reuters

    Exclusive: Investors press companies on human rights in Xinjiang

    A group of religious and socially conscious investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China's Xinjiang region, highlighting the challenges for brands trying to maintain their business ties amid rising tensions. The group of more than 50 investors, backed by the Interfaith Center on Corporate Responsibility, said it is in the process of contacting more than 40 companies, including H&M, VF Corp, Hugo Boss and Zara-owner Inditex, requesting more information about their supply chains and urging them to quit situations that could lead to human rights abuses.

  • Investors press companies on human rights in Xinjiang
    Reuters

    Investors press companies on human rights in Xinjiang

    A group of religious and socially conscious investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China's Xinjiang region, highlighting the challenges for brands trying to maintain their business ties amid rising tensions. The group of more than 50 investors, backed by the Interfaith Center on Corporate Responsibility, said it is in the process of contacting more than 40 companies, including H&M, VF Corp, Hugo Boss and Zara-owner Inditex, requesting more information about their supply chains and urging them to quit situations that could lead to human rights abuses.

  • European fashion stocks hit by China Xinjiang row
    Reuters

    European fashion stocks hit by China Xinjiang row

    Shares of European fashion brands Adidas, Inditex and H&M fell on Thursday as they faced a storm of criticism on social media in China over comments they have previously made about Xinjiang. Chinese state media singled out H&M on Wednesday for a statement last year in which the Swedish retailer was reported by media as saying it was deeply concerned by reports of accusations of forced labour in Xinjiang, and that it did not source products from the Chinese region.