After Inditex saw its investors demand greater transparency regarding the factories where it produces its garments, listed fashion companies are now also facing questions from impact investors. Their aim: to encourage companies to adopt processes that are more respectful of workers and the environment. Johanna Schmidt is an investment strategist at Triodos Investment Management, which … Read more
Fast fashion group Shein’s profits will become public knowledge in future, whether it lists in London or New York, but for now, we have to rely on secondhand information. Shein That info — about its 2023 results — comes from The Financial Times, which cited “a financing document” it had seen and “four people close … Read more
Analysts had mixed views of H&M Group’s latest results this week, some emphasising how the company still had plenty of work to do. But investors in the firm didn’t seem to be listening to those at the gloomier end of the spectrum and sent its share price up over 15% on Thursday. It jumped again … Read more
H&M Group released its first set of results under the leadership of CEO Daniel Ervér on Wednesday and he seems to have got off to a good start because while Q1 saw net sales down, profit rose. He said that February’s sales in particular “gradually improved, with well-received spring collections, which is a positive sign … Read more
By Reuters API Published Mar 23, 2024 Investors will be looking for reassurances from new H&M CEO Daniel Erver that he has the right plan to reboot revenue growth when the fast fashion retailer reports its first quarterly earnings under his leadership on Wednesday. Reuters Erver took the helm in January after his predecessor Helena … Read more
By Reuters API Published Mar 22, 2024 Workers from Zara, Bershka and other clothing stores owned by fashion giant Inditex protested outside their shops across Spain on Friday to demand better conditions after the group reported record profits and raised shareholder payouts. Outside the flagship Bershka store on Madrid’s iconic Gran Via boulevard, demonstrators, mainly … Read more
By Reuters API Published Mar 22, 2024 Amancio Ortega, the Spanish billionaire and founder of the fashion group that owns Zara, has bought an office building in Luxembourg for 175 million euros ($189 million), his family’s investment vehicle Pontegadea said on Friday. Amancio Ortega Baltisse, an investment holding company belonging to Belgian entrepreneur Filip Balcaen, … Read more
Translated by Roberta HERRERA Published Mar 16, 2024 For Inditex, ambition knows no bounds. Once again, the Arteixo-based company revealed record-breaking financial achievements, characterized by a 30% surge in net profit to 5.381 billion euros. Despite the evident satisfaction within the group, as expressed by its CEO, Óscar García Maceiras, Inditex aims to venture even … Read more
By Reuters API Published Feb 23, 2024 Zara owner Inditex, the world’s biggest listed fast fashion company by sales, is expanding its low-priced Gen Z-focused brand Lefties to counter Chinese-founded rival Shein. Reuters The rapid growth of Shein, an online marketplace with no physical stores, is putting pressure on retailers like Inditex and Sweden’s H&M … Read more
By Reuters API Published Feb 16, 2024 European retail industry body Eurocommerce called on European Union institutions and member states to resolve the Red Sea crisis that has disrupted trade, saying in a letter to Belgium’s foreign minister that it has already had “massive impacts” on businesses. Shipping companies have rerouted container vessels away from … Read more
