Retail news
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Profits soar at Inditex
- Posted:
- 01 April 2008 08:55
Inditex, owner of the Zara brand, has announced annual net profits up 25% with sales up 15% and like-for-like sales up 5% in the year to January 31st. International sales now account for 62.5% of profits against 60.4% in 2006 as the group opened 560 stores during the year, 80% ...read more
Travelodge expands into Spain
- Posted:
- 20 November 2007 09:04
Budget hotel operator Travelodge is planning to open up to 100 sites in Spain. For the past two years the group has operated three trial sites in Barcelona and Madrid and has earmarked Malaga, Zaragoza, Bilbao and Valencia as possible new locations.Chief executive Grant Hearn plans to open five hotels, ...read more
Zara withdraws swastika bag
- Posted:
- 20 September 2007 09:40
Inditex-owned fashion chain Zara has apologised and withdrawn a handbag from its stores after it received complaints about the design, which featured swastikas. Zara said that the symbols had not been visible when it sourced the £39 bag from an external supplier. Although it is a religious symbol for Hindus ...read more
£350 million shopping centre forced to change name by coven
- Posted:
- 24 July 2007 09:55
The £350 million shopping centre in Leicester's Shires has been forced to change its name from the Highcross Quarter after a coven of Wiccans objected. The Highcross Quarter is the name given to the four most significant periods in the Wicca calendar and the alternative faith group had objected to ...read more
Inditex profits rise ahead of global expansion
- Posted:
- 14 June 2007 10:08
Inditex, the largest clothing retailer in Europe and owner of the Zara brand, has announced a rise in profit of over a third for the first quarter. Overseas sales, including expansion in France and China and tight control on costs bolstered the company’s net income, which rose 33% to £134.8 ...read more
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