Industria De Diseno Stock News

FRANKFURT, Germany: The German sports company Puma said Saturday (Sunday in Manila) it would temporarily shutter its shops in Russia, following other retailers and businesses in suspending their operations after the invasion of Ukraine. The outfitter, based in Herzogenaurach in Germany, said in a statement it had "decided to suspend operations of all its stores in Russia," after a similar announcement earlier on Saturday by the Spanish clothing giant Inditex, owner of Zara. "Less than four percent" of the German sportswear company''s revenue came from Russia, a spokeswoman for Puma told AFP, with the global figure coming to 6.8 billion euros ($7.4 billion) in 2021. Puma will "continue to pay the full salary of our employees" at "more than 100" retail locations across the country, the spokeswoman said. The German brand on Thursday said it would "suspend its contract With the Russian Basketball Federation", after the decision of the International Olympic Committee to recommend the exclusion of Russian athletes from international competition.

Zara, Paypal and Samsung are the latest international companies to shut down operations in Russia following the invasion of Ukraine. Clothing retailer Inditex will close all 502 stores of its eight brands, including Bershka, Stradivarius …

MADRID, Spain – Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday, March 5. The Zara owner is following some of the biggest western brands which have suspended operations in Russia, including its main rival H&M, following the invasion of Ukraine and the imposition of economic sanctions . “In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its activity,” the world’s biggest fashion company said. Russia accounts for around 8.5% of the group’s global EBIT (earnings before interest and tax) and all the Inditex stores operate on a rental basis, Inditex said. “The investment is not relevant from a financial point of view.” Inditex said it would give its workforce of more than 9,000 people a special support plan, without giving any details. The group had said its 79 stores in Ukraine have already been temporarily closed.

Global fashion company Inditex, the parent company of Zara, announced on Saturday it was closing all shops in Russia amid the country''s ongoing invasion of Ukraine.The decision means the closure of 502 shops in Russia and a halt to all online sales…

KYIV: A strategic Ukrainian city put off a planned evacuation of residents yesterday blaming Russian forces for breaking their temporary ceasefire as the Russian leader warned the West of a wider war if a no-fly zone is set up. “Any movement in this direction will be considered by us as participation in an armed conflict by that country,” President Vladimir Putin said. With his Ukrainian counterpart Volodymyr Zelensky criticizing NATO for ruling out a no-fly zone for fear of sparking nuclear conflict, Putin spoke of “colossal and catastrophic consequences not only for Europe but also the whole world”, if such a zone was set up. For Zelensky, on day 10 of the invasion, under an escalating bombardment that has flattened more and more infrastructure and sent nearly 1.4 million civilians fleeing for their lives, the Western military alliance’s “no” to a no-fly zone had essentially given “the green light for further bombing of Ukrainian cities and villages”. Under siege Mariupol proudly resisted Moscow-backed rebels during a 2014 conflict, but the Azoz sea port has for days been without electricity, food and water in the dead of winter and people began gathering for the evacuation.

Spanish clothing company and owner of the Zara brand, Inditex, said on Saturday it has closed its 502 shops in Russia and halted online sales amid the crisis caused by Moscow''s military offensive …

Spanish firm is latest western brand to halt operations amid sanctions over Ukraine invasion and rouble weakness

MADRID, March 5 ― Spanish clothing giant Inditex, which owns Zara, announced today it was temporarily closing hundreds of shops in Russia as well as the group’s online shopping store. Inditex is one of many multinationals that have suspended…

EFE 5th March 2022 – (Moscow) Spanish retail giant Inditex, which owns fashion brands such as Zara, Bershka and Pull&Bear, announced Saturday it was “temporarily suspending” its operations in Russia, where it has over 500 stores. The company said both physical stores and online channels would be suspended in response to the Russian invasion of […] The post Inditex which owns ZARA, Bershka and Pull&Bear suspends operations of its over 500 stores in Russia appeared first on Dimsum Daily .

Inditex, which owns Zara and several other major brands, will close all of its 502 stores in Russia.

Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday, Report informs, citing Reuters.

Zara owner Inditex closes Russian stores and online platform

Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday to the Spanish regulator.

Futures Rebound Strongly From Overnight Rout As Yields Stabilize After what earlier looked like another assured overnight rout, especially after 10Y yields hit 1.90% and Brent rose as high as $89/bbl, US equity futures reversed earlier losses to trade higher as earnings optimism outweighed concerns over soaring bond yields and a 50bps March rate hike. As of 7:00am ET, emini S&P futures were up 14 points ot 0.3% to 4,585, Nasdaq futures were up 65 points or 0.44% and Dow futures were also in the green by 89 points or 0.25%. The dollar slumped after several days of sharp gains, the 10Y yield traded at 1.8826%, down from the session''s highest levels, and Brent was at $88.23. The prospect of accelerated policy tightening as well as concerns over the omicron variant and inflation hurting companies profits have whipsawed equities this year. The surge in Treasury yields has fueled a rotation out of expensive technology and growth shares and into cheaper parts of the market. Meanwhile, the 10Y yield has continued its aggressive push higher overnight, and hit a fresh 2 year high, rising just above 1.90% for the first time since Jan 2020, before retracing some of the move.

Zara owner Inditex has posted record sales for Q3, despite shares falling as investors remain concerned about future Covid restrictions. The post Zara owner Inditex posts record Q3 profits as shares dip appeared first on Retail Gazette .