|Bid||29.38 x 342600|
|Ask||29.39 x 122100|
|Day's Range||29.26 - 29.55|
|52 Week Range||29.00 - 36.90|
|PE Ratio (TTM)||28.01|
|Forward Dividend & Yield||0.35 (0.95%)|
|1y Target Est||N/A|
Inditex, the world's biggest clothing retailer and owner of the Zara brand, posted a 9 percent rise in first-half profit but gross margin as a percentage of sales slipped from the year-ago period due to the stronger euro. Ciara Lee reports.
Barclays in a Tuesday morning note downgraded the Swedish retailer to "underweight," after it concluded the "market is unwarranted in pricing similar cash flow growth for both H&M and Inditex."...
Investors have been locking in profits, shrugging off continued strength in economic data as euro zone earnings growth slowed compared to the previous quarters and caution rose over whether a stock market rally could continue. Shares in Fresenius SE (FREG.DE), Greene King (GNK.L), Just Eat (JE.L), United Utilities (UU.L) and H&M (HMb.ST) all fell more than 2 percent after ratings downgrades from brokers.
European stocks declined on Friday, suffering a second straight weekly loss, as disappointing corporate updates and broker downgrades provided pressure.
Workers at a factory used by Zara are using the tags to complain they have not been paid for their labor. Owner of the factory, which was a supplier to Zara, fled a year ago
Catalonia, Spain’s would-be breakaway region, is also the country’s most powerful economic engine. Six members of the benchmark Ibex-35 are based there, while others have extensive interests in the area. ...
The strong euro is taking a bite out of European earnings, with the region’s companies bracing for more pain in the coming months and searching for ways to protect their bottom line.
Inditex SA said Wednesday that the autumn and winter sales season got off to a more robust start than expected, although the operator of the Zara chain reported a bigger-than-expected decline in profitability ...
European banking stocks were in particular focus, with the sector trading 0.5 percent lower as investors awaited the conclusion of the U.S. Federal Reserve's meeting for clues as to whether a third interest rate hike is on the cards for this year. Banks, which have outperformed the broader market so far this year, are a beneficiary of higher interest rates.
MADRID (AP) — Spanish fashion retailer Inditex, which owns the Zara stores, says its net profit jumped by 9 percent in the first half of its fiscal year, following strong growth in online and in-store sales.
British budget fashion retailer New Look , which is owned by South Africa's Brait and struggling with declining sales in a fiercely competitive UK market, said Chief Executive Anders Kristiansen had left the company. New Look had been one of Britain's most popular retail names for decades, offering fashionable clothes at lower prices, but has seen its sales slide over the past year amid rising competition from the likes of online retailers Asos and Boohoo and Inditex's Zara, which can bring the latest trends to stores more quickly via its local supply chain.
Wednesday’s ascent marked the fourth time he had reigned as world’s richest. In each case, he has lost his spot to Bill Gates within 48 hours.
Ralph Lauren Corp reported better-than-expected quarterly results and said it would pull back more inventory from department stores as it tries to keep a tight leash on discounting under its new Chief Executive Patrice Louvet. Ralph Lauren's profit beat comes at a time when the company has been keeping a razor-like focus on its inventory in an industry battered by sluggish spending and competition from online and fast-fashion retailers. In a bid to regain its brand cachet, the company will pull back inventory from 20 to 25 percent of U.S. department stores during the second half of the year.
H&M reported weaker-than-expected second quarter sales Thursday, increasing investor concern that the fashion retailer will struggle to gain ground against its ever-expanding rival Inditex SA IDEXY .
The following are the top stories in the Wall Street Journal. - A highflying Chinese business tycoon, Wu Xiaohui, whose company owns New York's Waldorf Astoria hotel was detained in China late last week by authorities who are investigating corruption and trying to curb risky financial behavior. - A bipartisan group of state attorneys general is jointly investigating the marketing of prescription painkillers and the causes of widespread opioid addiction, according to people familiar with the matter, in another sign of growing pressure on the pharmaceutical industry.