Browsing: Inditex

Zara Owner Inditex Saw Profits Plunge 70%. Here’s Why the Company Will Rebound.
By

Text size

A woman pushes a stroller as she walks past a Zara retail store on Jun. 18, 2020 in Bergamo, Italy. (Photo by Emanuele Cremaschi/Getty Images)


Getty Images

Zara owner

Inditex

saw profits plunge 70% over the past year as online sales at the fashion giant failed to offset the raft of store closures caused by coronavirus.

Lockdowns and shoppers shifting from fashion to casual wear caused the owner of Massimo Dutti and Pull & Bear to post worse-than-expected figures. But shares in the world’s largest fashion retailer were flat at €21.22 ($25.02) after the Spanish-listed company predicted 100% of its stores will be open by Apr. 12.

The back story. Inditex along with rivals

H&M,


Next

and

Marks & Spencer

have been hit hard by the impact of the Covid-19 pandemic. Retailers with large store estates are still having to cover the cost of expensive rent despite

Read More
Inditex invests in technology to merge online with in-store shopping
By

MADRID (Reuters) – Zara owner Inditex unveiled a 2.7 billion euro ($3 billion) investment in technology on Wednesday to make it easier for customers to track the items they want, blurring the lines between online and in-store shopping.

Using the fashion retailer’s app, shoppers will be able to browse a specific store’s stock to buy items for collection the same day, reserve a changing room, find garments in store via a map and self check-out using QR codes.

The idea is that sophisticated control of stock and high-tech tools for shoppers to locate items both in store and online will lead to more sales at full-price.

The technology will be rolled out across Inditex’s stores over the next three years, a company spokesman told Reuters.

One billion euros of the investment is earmarked for a proprietary technology platform, the company said.

Inditex uses radio frequency technology, attached as a chip

Read More