Industria De Diseno Stock News

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 .

Zara owner Inditex and rival H&M, modeled by singer-song writer Mabel (pictured) both reported sales returning to or above pre-pandemic levels.

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The Corner Inditexs (ITX) net profit for the first nine months of its fiscal year (1 February 2021 to 31 October 2021) rose 273% to 2.5 billion euros. In the watertight third quarter, the textile company said sales, profit before tax and net profit reached an all-time high. During the third quarter of 2021, sales growth at constant exchange rates progressively accelerated to 21% compared to the third quarter of 2020 and

Industria de Diseño Textil, S.A. (IDEXY) CEO Oscar Maceiras on Q3 2021 Results - Earnings Call Transcript

The world's biggest fashion retailer Inditex cemented its recovery to pre-pandemic levels on Wednesday, posting a net profit of 2.5 billion euros ($2.82 billion) in the first nine months of its fiscal