H&M Group’s Q3 sales rose 14% year-on-year (YoY), the Swedish fashion retail giant said on Wednesday. That said, the figure was in local currencies and when converted to Swedish Krona, the rise was only 9%.
Fashion retail giant Inditex said on Wednesday that its recovery is continuing to gain momentum with its sales, EBITDA and net income in the second quarter of its financial year reaching "historic highs”.
When the world's two biggest fashion groups unveil quarterly sales figures on Wednesday, Inditex is seen back at pre-pandemic levels as stores reopen and people renew their wardrobe, while H&M still has some way to go.
Major global retailers agreed to extend a legal agreement with garment workers and factory owners in Bangladesh that subjects retailers to legal actions if their factories fail to meet labour safety standards.
In a project led by art director Fabien Baron, the Inditex-owned label is honouring the most iconic pictures lensed by the German photographer with a limited-edition collection whose proceeds will go to the Franca Fund.
French magistrates have opened an inquiry into allegations four fashion groups including Uniqlo and the owner of Zara profited from forced labour of the Uyghur minority in China, a judicial source said Thursday.
Coinciding with the presentation of the group’s Q1 results, Inditex has announced the “voluntary resignation” of its deputy CEO Ramón Reñón, who bids farewell to the Spanish group after almost 30 years.
Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
As flagships go, Zara’s tend to be really big. And the Inditex star brand’s latest is no exception. The new store in the St David’s mall in Cardiff, which opened this week, measures 36,500 square feet.
Retailers and unions negotiating over a legally binding workers' safety accord in Bangladesh due to expire on Monday reached a tentative deal to extend it by three months, unions involved in discussions said.