MADRID—Fashion giant Zara has started charging shoppers in Spain for returns of online purchases, the company announced on Wednesday, though store returns remain free. Customers now have to pay 1.95 euros ($2.13) if they wish to return pieces from home, with the cost deducted from their refund, Zara said on its Spanish website. However, items…
H&M Sales Miss as Retailer Struggles to Compete With Zara
STOCKHOLM—H&M reported on Thursday lower-than-expected quarterly sales as shoppers tighten their belts with energy and food bills soaring and the world’s second-biggest fashion retailer struggles to compete with rival Zara. Third-quarter net sales at the Swedish group were up 3 percent from a year earlier at 57.5 billion crowns ($5.4 billion), short of the 5…
Zara’s Three Sister Brands Exit Chinese Market
The three sister brands of Spanish Fast Fashion brand ZARA: Bershka, Pull&Bear, and Stradivarius, recently announced they will officially withdraw from the Chinese market by the end of this month, joining an ongoing wave of international fashion giants withdrawing their operations from China. Bershka, Pull&Bear, and Stradivarius, under ZARA’s parent company Inditex, issued closure announcements in…
Zara Owner Inditex Bucks Retail Trend as Sales Boom
MADRID—Fashion giant Zara’s owner Inditex reported an 80 percent jump in first-quarter profit on the back of soaring sales as consumers refreshed their wardrobes after months spent stuck at home during the pandemic lockdowns. Zara has benefited from successfully passing on higher prices to shoppers despite a cost of living crisis squeezing margins at other…
Zara Owner Inditex Set to Benefit From Higher Prices
MADRID—Fashion giant Zara’s owner Inditex is expected to report bumper first-quarter earnings next week, benefiting from raising prices more than rivals without damaging its sales, analysts said. As a cost of living crisis intensifies across the region, Europe’s retailers are facing a tricky balancing act between passing on rising supply chain costs to consumers and…
How Global Supply Chains Are Falling out of Fashion
MILAN—Fashion brands like Benetton are increasingly turning away from globe-spanning supply chains and low-cost manufacturing hubs in Asia, in a shift that could prove a lasting legacy of the COVID-19 pandemic. Italy’s Benetton is bringing production closer to home, boosting manufacturing in Serbia, Croatia, Turkey, Tunisia, and Egypt, with the aim of halving production in…
Zara Owner Inditex Outshines H&M as Sales Top Pre-Pandemic Levels
MADRID—Fashion brand Zara owner Inditex has outpaced Swedish rival H&M in its efforts to bounce back from the coronavirus crisis, with second-quarter sales rising above pre-pandemic levels. The world’s biggest fashion retailer’s sales in the quarter edged above levels seen before the pandemic as most stores reopened and people rushed to renew their wardrobe after…
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