Latest news with #Pull&Bear
Yahoo
13 hours ago
- Business
- Yahoo
Inditex Sales Slow as Economic Headwinds Hit the High Street
PARIS — Zara parent company Inditex is starting 2025 on its back foot, with lower-than-expected sales in the three months to April 30. Sales rose 4.2 percent at constant currency, a notable slowdown from the company's long-running streak of double-digit growth. The figure also fell short of analysts' expectations for 5.6 percent growth year-over-year. More from WWD Designer Vincent Van Duysen Opens Antwerp Home for Zara Home+ 4th Collection First Look: A New Zara at The Grove Kate Moss' and Bobby Gillespie's Zara Capsule Is All Rock 'n' Roll 'Following a very strong post-pandemic period, its sales base is now larger and its operating margin has reverted to above its long-term average. We expect a more moderate rate of sales and EPS growth this year and as such in our view valuation looks fairly full compared to some other retailers and also the luxury sector,' RBC analyst Richard Chamberlain said in a trading note. Despite macroeconomic pressures, Inditex signaled a more encouraging trend for the second quarter, with sales up 6 percent year-over-year at constant currency from May 1 to June 9. The parent company of Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho saw tempered numbers in other key categories, with gross profit up 1.5 percent to 5 billion euros, while operating expenses were up 2.3 percent. Earnings before interest, taxes, depreciation, and amortization (EBITDA) ticked up 1 percent to 2.4 billion euros, while operating profit (EBIT) increased by 0.3 percent to 1.6 billion euros. Net income for the quarter rose 0.8 percent to 1.3 billion euros. The company is continuing to revamp its retail network. More than 130 smaller or underperforming stores across all brands are being closed, while net retail space is expected to grow by 5 percent. The focus is on larger, more modern store formats, including expansions at The Grove in Los Angeles and Noon Square in Seoul, South Korea. Store upgrades were also carried out across other Inditex concepts, including Massimo Dutti and Pull&Bear in London, and Oysho in Paris. New Zara stores have recently opened in Athens, Greece, and Cambridge, Massachusetts. Improving its services, Zara launched Travel Mode for customers in the UK, Italy, and Japan, a service allowing delivery of online purchases to wherever a customer is staying. The rollout will soon extend to France, Spain, and Turkey. Inditex is also advancing its logistics infrastructure to support global growth. A new distribution center in Zaragoza, Spain, is scheduled to open this summer. The upgraded logistics system is now fully operational at Zara and is being implemented across other brands, including Bershka and Pull&Bear. Inditex will also see a board change at its upcoming annual meeting on July 15, with José Arnau stepping down and Roberto Cibeira, CEO of Pontegadea, set to take his place. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Sign in to access your portfolio
Irish Times
15 hours ago
- Business
- Irish Times
Zara owner Inditex's early summer sales disappoint as tariffs fuel uncertainty
Zara owner Inditex missed expectations for first-quarter sales and early summer trading on Wednesday, as tariff fallout complicated the fast-fashion retailer's efforts to maintain strong growth. Concerns about resurgent inflation and an economic slowdown triggered by US President Donald Trump's erratic tariff rollout have already dampened shopping enthusiasm in the United States and other major consumer markets. Inditex's competitors have also experienced a sluggish spring. The gorup has 23 outlets in Ireland, including Zara and Pull & Bear, and employs over 700 people. The company reported a slower start to its summer sales, with currency-adjusted revenue growth of 6 per cent from May 1st to June 9th, compared to analysts' expectations of 7.3 per cent, and down from 12 per cent growth in the same period a year ago. READ MORE Revenues for its first quarter ending April 30th were €8.27 billion, missing analysts' average estimate of €8.36 billion, according to an LSEG poll. Net income increased 0.8 per cent in the quarter, to €1.3 billion. Inditex shares were down 4 per cent in early trading, making it the second-worst performer on the Stoxx 600 index. Inditex did not provide a reason for the weaker sales growth. In a statement, it called its performance 'solid', having labelled it 'very robust' at its previous results announcement in March, when annual sales were up 10.5 per cent. 'Overall weaker sales growth is a combination of demand volatility in Q1, but we need to take a step back and look at mid single-digit growth as actually being quite good in this environment,' said Bernstein analyst William Woods. Inditex rival H & M's sales have also struggled, growing by just 1 per cent in March compared to 4 per cent in the same period a year earlier. Its December-February revenue grew by 2 per cent, below analyst forecasts. Rainy weather in Spain, which accounts for 15 per cent of Inditex's global sales, has also likely hurt the company's performance, according to Bernstein analysts. Spain experienced one of its wettest ever springs, with Madrid recording three times its usual levels of rainfall for the season. With volatility in foreign exchange markets driven by trade risks, Inditex said currency fluctuations will have a bigger impact than previously expected, predicting a 3 per cent negative effect on its 2025 sales, compared with the 1 per cent it flagged in March. – Reuters (c) Copyright Thomson Reuters 2025
Belfast Telegraph
29-05-2025
- Business
- Belfast Telegraph
Victoria's Secret to launch in first NI store – but brand's website currently down due to ‘security incident'
Popular retailer Victoria's Secret are set to open their first standalone shop in Northern Ireland this summer. The brand is known worldwide for their lingerie, sleepwear, beauty products, fragrances and accessories. Signs for the new store have appeared at a unit in Donegal Place. The notice features Victoria's Secret's famous pink stripe design along with a welcome message. We need your consent to load this Social Media content. We use a number of different Social Media outlets to manage extra content that can set cookies on your device and collect data about your activity. The message reads: 'Hey Belfast! We can't wait to welcome you to our brand new store this summer.' The new store will open this summer, and the company is currently hiring for a number of roles including team leader, sales associate, store manager and assistant store manager. Separately, Victoria's Secret has shut down its website due to what it calls a 'security incident.' The lingerie company released a statement on its website that read: "Valued customer, we identified and are taking steps to address a security incident. The statement continued: 'We have taken down our website and some in store services as a precaution. Our team is working around the clock to fully restore operations. 'We appreciate your patience during this process. In the meantime, our Victoria's Secret and PINK stores remain open and we look forward to serving you." The opening of the new store in Belfast follows news that Spanish brand Bershka is also opening a store in the city for the first time, setting up shop in Victoria Square. The shopping centre announced on Wednesday that it has signed the brand – a sister brand of Zara and Pull & Bear – for a 17,500 flagship store. And Pull & Bear, which is also in Victoria Square, is relocating to a spot triple the size of its current unit, while LEGO is also opening at the centre later this year.
Irish Times
29-04-2025
- Business
- Irish Times
Zara and Pull&Bear to expand Dundrum Town Centre presence
Inditex Group brands Zara and Pull & Bear are set to expand their footprint in Dundrum Town Centre, the shopping centre's owners have said. UK property group Hammerson, which jointly owns the Dundrum Town Centre with German insurer Allianz, said the company were actively seeking new brands to set up in the centre. Zara is set to increase its footprint by 43 per cent, from 26,300 sq ft to 37,700 sq ft, and will upgrade and refurbish its existing store. Pull & Bear will be relocating its shop in the centre, more than trebling its existing footprint from 2,477 sq ft to 8,394 sq ft Hammerson said the Pull & Bear expansion was expected to be completed later this year, while Zara's extension was not expected to open until 2026. READ MORE Both retail brands, Zara and Pull & Bear are owned by the Spanish fashion multinational clothing group, Inditex Group, alongside Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara Home. The fashion group operated 23 stores in Ireland last year, employing 741 people. The group generated revenue of €257 million, up 9 per cent year on year, with post-tax profits for the year standing at €22 million. Connor Owens, managing director of Hammerson's assets in Ireland, said the company was 'delighted with the expansion of Zara and Pull & Bear.' A new 14,500 sq ft entertainment and bowling space, Lane 7, opened in the centre in January and Mr Owens said there was a 'promising pipeline' of new openings for the rest of the year. In its financial accounts for 2024, Hammerson saw the value of its Irish assets decline by 13.3 per cent. The assets were valued in its full year results at £522 million (€630 million) at the end of December 2024, down from £630 million a year earlier. Hammerson's other Irish assets include a 50 per cent share in the Ilac Centre in Dublin city, and the Pavilions retail complex in Swords. Both of those are jointly owned with Irish Life Assurance plc.
Yahoo
04-04-2025
- Yahoo
The Mancunian Way: April sunshine
The sun is out, in Manchester, on a Friday. So we can expect all carnage to break loose in the city's beer gardens tonight as vitamin D-hungry Mancs clamour for a sunny pint. Nevermind that it only feels like 14C - we'll make it work. Our city is full of fantastic watering holes with access to the great outdoors, from Castlefield's The Wharf to the boozers of Stevenson Square and the Oast House in Spinningfields. But if you prefer something a little more old-fashioned, our tourism writer Liv Clarke has just the place. Tucked away from the hustle and bustle of Deansgate, the White Lion is located on Liverpool Road, just a few strides away from Mamucium Roman Fort in Castlefield. READ MORE: Attempted murder arrest as police descend on residential street after stabbing READ MORE: LIVE as Swinton police station taped off after man seriously hurt She describes the pub as 'cosy' and 'traditional' (tick, tick), with an 'extensive' garden to boot. And what's more, the words 'drinks' and 'affordable' are even in the same sentence. Really, what more could you ask for? You can read more about the pub with a view of the oldest part of the city here. Looking ahead to next week, it's Easter holiday season and we're expecting to be blessed with sunshine for at least a few more days. Keeping the kids entertained for two whole weeks can be a challenge, but our parents editor Emma Gill says there's loads to do over the Easter break this year. There are plenty of easter egg hunts to join, including trails at the likes of Heaton Park and RHS Bridgewater. Elsewhere, you could spend a day out at a huge inflatable theme park (I'm pretty tempted by this one to be honest), or making mini books at the People's History Museum. You can read Emma's full list bursting with things to do over Easter here. The sunny weather is set to last all weekend, so it's the perfect opportunity to get in that long walk you've always wanted to do. But if you're fresh out of ideas, never fear - Liv has come in clutch with this week's suggestion. It's a Victorian park with play areas for kids, a pond with a rockery, and a lovely little pavilion. It even boasts its own ice cream parlour for the sweet-toothed of us, with classic flavours from raspberry ripple and rum & raisin, to more adventurous options like Jaffa Cake and Cartmel Sticky Toffee Pudding on offer. You can read more here. Big changes are afoot at Greater Manchester's shopping paradise the Trafford Centre. In an announcement made today, Trafford Centre bosses have confirmed a major leasing deal with Inditex, the fashion giant that owns hit brands Zara and Pull&Bear. They are to take over the large site near John Lewis left vacant ever since M&S moved to its new megastore location at Regent Crescent. The current Zara and Pull&Bear stores already in the Trafford Centre are set to relocate to larger flagship stores in the new location, and the region will get its very first Bershka. You can read more here. Prestwich's rise to trendy status has been covered extensively over the last few years. But the town's ascendancy could be about to reach new heights with the appointment of a building contractor. Vinci, who have been handed the contract, are the firm behind a massive 10 year project to deliver the regeneration of the New Covent Garden Market site in central London. The wider project is being delivered by Prestwich Regeneration LLP, a joint venture between developer Muse and Bury Council They said the plans will 'overhaul the dated Longfield Centre site, revitalising Prestwich Village with shops, community facilities, public green spaces and much-needed new homes'. You can read more here. Every year as the weather heats up, moor fires become a sadly familiar story. Over the last few weeks, firefighters have been dealing with a number of moor blazes in Greater Manchester and its neighbouring areas including Stalybridge and Littleborough. Speaking to the Manchester Evening News, Stalybridge and Hyde station manager Martin Cain explained why wildfires are common this time of year. "People think that because it's rained, the moors are wet, and yes, underneath it is, but across the top it's very, very dry,' he said. "If it rains now, within half an hour the grass will be bone dry again because of the wind. People coming up with barbecues or naked flames is what is starting these fires. "They don't realise the danger of how embers of the barbecue will get blown and set fire to the moors on a sunny day. If you're coming to the moors, come and enjoy them, but do it without the flame. Come and enjoy it safely." You can read more here. Marcin Majerkiewicz, 42, was jailed for life last week after killing Stuart Everett by hacking him with a hammer before cutting him up and spreading his body across parks in Greater Manchester. Only around a third of Mr Everett's body has been found. James Holt and Lee Grimsditch sat down with Mr Everett's brother Richard Ziemacki, who spoke of his heartache over the tragic murder of his brother. You can read the piece here.
