|Bid||24.92 x N/A|
|Ask||24.97 x N/A|
|Day's Range||24.62 - 25.49|
|52 Week Range||18.50 - 32.28|
|Beta (5Y Monthly)||0.91|
|PE Ratio (TTM)||21.45|
|Forward Dividend & Yield||0.66 (2.60%)|
|Ex-Dividend Date||Oct 31, 2019|
|1y Target Est||N/A|
Social distancing means models have had to adapt from photo shoots of 20+ stylists and makeup artists to shooting at home with self-styled hair and housemates holding the camera.
Spain was weighing up further steps on Thursday to bring life back to normal as the coronavirus epidemic ebbed, but the capital Madrid and the city of Barcelona could remain under tight restrictions for the time being. Both cities and their surroundings have registered the highest number of coronavirus deaths and infections in Spain, one of the countries worst hit by the global pandemic.
The unraveling of J.Crew has spun many Twitter threads, from fans mourning the possible end of an iconic American brand to those dancing on the preppy label’s grave. J.Crew Group Inc. filed for bankruptcy protection on Monday, saddled with $1.65 billion in debt (which is being converted into equity) and claiming that store closures during the COVID-19 pandemic will cost it $900 million in sales. The news led J.Crew to top Google (GOOG) searches and to go viral on Twitter (TWTR) as one of the first major retail casualties of the coronavirus outbreak that has essentially shut down the U.S. economy.
Fast Retailing Co, the owner of casual clothing chain Uniqlo, is ready to re-open two stores in Berlin this week, the company said on Tuesday, the first in Europe to reopen its doors since closing over the coronavirus outbreak. All the 98 Uniqlo stores the company runs in Europe are temporarily shut, except for one in the Swedish capital of Stockholm, where stores and schools remain open.
The retailer has three main logistic hubs in Spain, located in Madrid, Zaragoza and Arteixo, A Coruña, where it has its global headquarters.
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.
Zara-owner Inditex has switched its clothes factories in Spain over to making medical supplies, while its logistics hub has almost ground to a halt. That's effectively frozen the nerve centre of its business from which it supplies stores worldwide. The Spanish firm said in its annual results on March 18 that it had temporarily closed over 3,700 stores worldwide. That would leave around half of its shops still open, suggesting its global footprint might help it to get through the crisis. But with Spain suffering the most deadly outbreak outside Italy, the government there on Saturday tightened the terms of its lockdown. That meant Inditex's 13 factories in its home market have had to stop making clothes. The world's largest clothing retailer does not disclose the proportion of its goods made in Spain - putting a question mark over supplies to shops elsewhere that remain open. On Friday (April 3) Sweden's H&M reported a 46% plunge in March sales. The world's second-biggest clothing retailer said it expects a significant loss in the second quarter. The virus has forced H&M to temporarily close most of its stores and flag big layoffs. H&M's shares though were up 4% on the news as the retailer said it planned to strengthen its liquidity buffer with new credit. Shares though have plunged 40% in the past month. ///////
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.
Bangladesh, the second-largest apparel producer after China, is set to lose roughly $6 billion in export revenue this financial year amid cancellations from some of the world's largest brands and retailers, two major industry bodies said on Tuesday. The two groups, which represent the vast majority the readymade garment and knitwear manufacturers in the country, said cancellations were increasing daily amid coronavirus-driven lockdowns globally, and these risked jeopardizing millions of jobs in the poor South Asian nation. Low wages have helped Bangladesh build its garment industry, with some 4,000 factories employing 4 million workers.
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 center of the retailer's operations.
The following are the top stories on the business pages of British newspapers. - A review into whether executives at Britain's Lloyds Banking Group covered up a 1 billion pound ($1.16 billion) fraud is due to be completed by the end of the year, more than three years after it was commissioned. - The UK-listed drug group Ergomed Plc has announced it is working on a study of a potential treatment for COVID-19.
German fashion house Hugo Boss on Wednesday scrapped the outlook it gave for 2020 results less than two weeks ago and took action to protect its cash balance, suspending store renovations and new openings and limiting the inflow of stock. As governments around the world impose restrictions on public life to try to contain the spread of the coronavirus, Hugo Boss said it had closed a large number of its retail stores as well as many concessions in Europe and North America. Hugo Boss said the impact of store closures to its sales and earnings was impossible to quantify at this point, but it was abandoning the outlook it gave on March 5.
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 said on Wednesday the coronavirus pandemic had dealt a significant blow to its business and that it would book a provision of 287 million euros ($316 million) against the outbreak's impact on its spring/summer inventory position. The cash-rich fashion group said the uncertainty generated by the coronavirus pandemic meant it may channel the cash destined for the payment of the 2019 dividend into reserves, subject to a board and shareholder vote. Inditex, the world's largest clothing retailer, said store and online sales in local currencies fell 24.1% from March 1 to March 16 and that nearly 4,000 stores were temporarily closed in 39 markets due to the outbreak.
Zara owner Inditex 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.
NEW YORK/MADRID, March 13 (Reuters) - As virus-wary shoppers stayed home in the United States and Europe, apparel retailers braced for a blow to sales and a potential inventory glut. U.S. retailers including Macy's Inc, Saks Fifth Avenue and Gap Inc.'s Banana Republic sent notices to shoppers late Thursday saying they were open for business in a move to stem losses due to a steep decline in traffic.
The Chinese manufacturing engine that powers much of the world economy is struggling to restart after an extended Lunar New Year break, hindered by travel and quarantine restrictions imposed to curb the coronavirus epidemic and still in place in many parts of the country. Case in point: in the southern China manufacturing hub of Dongguan, a factory that makes vaporizers and other products had just half of its workforce of 40 last week and was struggling to function without key personnel.
Some shopping mall landlords in Hong Kong, including Sun Hung Kai Properties, the city's largest property developer by value, are offering relief measures such as rental concession to their tenants during the coronavirus outbreak. Sun Hung Kai Properties, who owns major malls in some of the local districts that host international fashion brands ranging from Coach to Zara, said on Wednesday it would reduce February rent by 30-50% for most of its tenants, in an effort to stabilize economy and protect employment. For its chain and international brand tenants, it will launch relief measures after collecting their sales data.
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