{"id":4157,"date":"2024-03-14T16:01:35","date_gmt":"2024-03-14T14:01:35","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=4157"},"modified":"2024-03-14T16:01:35","modified_gmt":"2024-03-14T14:01:35","slug":"zara-owner-inditex-shares-rise-to-record-high-on-spring-season-boost","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=4157","title":{"rendered":"Zara-owner Inditex shares rise to record high on spring season boost"},"content":{"rendered":"

Zara-owner Inditex\u2019s shares rose to a record high after it reported positive early spring sales, boosted by upmarket fashions and continuing the strong momentum that saw its 2023 revenue growth top that of rival H&M.<\/strong>Shares in the world\u2019s biggest fashion retailer rose as much as 5.9 per cent on Wednesday after it reported that sales at constant currencies for Feb. 1 to March 11 jumped 11 per cent. Sales rose 10 per cent to a record 36 billion euros ($39 billion) in the year to January 2024.\u201cThe year got off to a positive start in a complex environment of inflationary pressures and an unstable geopolitical situation,\u201d CEO Oscar Garcia said in a press conference.The Spanish group is expanding in the U.S., its second-largest market after Spain, and plans Zara store openings in Los Angeles, Las Vegas and Cambridge, Massachusetts, as well as the first Massimo Dutti store in the country that will open in Miami.The company behind Zara has widened its lead over Sweden\u2019s H&M thanks to its ability to deliver trends faster from nearby suppliers and sell more clothes at higher prices. That has also helped it counter fast-growing Chinese rival Shein.In January, H&M\u00a0reported a 4 per cent drop in December and January sales, a bad sign for the key Christmas shopping period. German online fashion retailer Zalando on Wednesday reported a full-year decline in sales.<\/p>\n

SALES GROWTH SLOWS<\/h2>\n

The company\u2019s results were in line with analysts\u2019 expectations but its sales are growing more slowly than a year earlier, as the pace of price increases has moderated. In the first half of spring 2023, its sales rose 13.5 per cent.<\/strong>Inditex posted an annual net profit of 5.4 billion euros, up 30 per cent on the year and in line with analysts\u2019 expectations in an LSEG poll, as the company maintained a gross margin of 57.8 per cent.Inditex said it planned to invest 900 million euros per year through 2025 on logistics. Those plans include new logistics centres in Zaragoza in Spain and the Netherlands, Garcia said during an analysts call.<\/p>\n

\n

\"Zara<\/p>\n

Zara\u2019s logo is displayed on a window, at one of the company\u2019s largest stores in the world, in Madrid, Spain, April 7, 2022. REUTERS\/Juan Medina\/File Photo
\n<\/figure>\n

It will spend a total of 1.8 billion euros this year to expand its store space by 5 per cent, and on technology and improving online platforms in 2024.Inditex said it will start weekly livestreaming shopping services for its core brand Zara in the U.S. and UK this year, after offering the e-commerce experience in China since the end of 2023.Livestreaming is a retail phenomenon that initially became popular in China, combining online shopping, video streaming and texts to sell millions of products, and companies\u00a0including Durex-owner Reckitt\u00a0have jumped on the trend.Garcia said Inditex would expand its second-hand business to the U.S. after its launch in UK in 2022 and later in the rest of Europe last year.<\/p>\n

DIVIDEND BOOST<\/h2>\n

The company had 5,692 stores worldwide in 2023, 123 fewer than a year earlier, and said its inventories in January were 7 per cent lower year-on-year, in part due to the \u201cnormalisation in supply chain conditions\u201d.Inditex said it will increase its dividend payout by 28 per cent to 1.54 euros per share, above analysts\u2019 expectations.Inditex\u2019s core brand Zara began to raise prices earlier than H&M in response to surging inflation and as part of a shift to offer special, high-fashion pieces, while growing other brands in its\u00a0budget range.But over the last two years, Zara has increased average prices season-over-season at a slower pace than H&M and others, according to retail intelligence company EDITED.<\/strong>Investors expect Inditex to continue to outperform H&M. The Spanish group has a higher valuation than peers H&M, Gap, and Next.<\/strong>Follow the
\nCyprus Mail on Google News<\/p>\n","protected":false},"excerpt":{"rendered":"

– Inditex’s shares rose to a record high after reporting positive early spring sales.
\n– Sales at constant currencies for Feb. 1 to March 11 jumped 11 percent.
\n– Annual sales rose 10 percent to a record 36 billion euros in the year to January 2024.
\n– Inditex’s revenue growth in 2023 topped that of rival H&M.
\n– The company plans to open Zara stores in Los Angeles, Las Vegas, and Cambridge, Massachusetts, and the first Massimo Dutti store in Miami.
\n– Inditex has widened its lead over H&M by delivering trends faster and selling more clothes at higher prices.
\n– H&M reported a 4 percent drop in December and January sales.
\n– Inditex’s sales growth has slowed compared to the previous year, with a 13.5 percent increase in the first half of spring 2023.
\n– The company posted an annual net profit of 5.4 billion euros, up 30 percent on the year.
\n– Inditex plans to invest 900 million euros per year through 2025 on logistics.
\n– It will spend a total of 1.8 billion euros this year on expanding store space by 5 percent, technology, and improving online platforms in 2024.
\n– Inditex will start weekly livestreaming shopping services for Zara in the U.S. and UK.
\n– The company will expand its second-hand business to the U.S. after launching in the UK in 2022.
\n– Inditex had 5,692 stores worldwide in 2023, 123 fewer than the previous year.
\n– Inventories in January were 7 percent lower year-on-year.
\n– The company will increase its dividend payout by 28 percent to 1.54 euros per share.
\n– Zara began raising prices earlier than H&M in response to inflation and to offer high-fashion pieces.
\n– Over the last two years, Zara has increased average prices at a slower pace than H&M and others.
\n– Investors expect Inditex to continue to outperform H&M, with the Spanish group having a higher valuation than peers like H&M, Gap, and Next.<\/p>\n","protected":false},"author":3,"featured_media":4158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[1766,186,486,174,33,3,203,201,763,308,250,1823,67,1236,1276,1215,1033,720,1894,1806,335,586,1535,1912,615,1682,618,494,1913,18],"class_list":["post-4157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-budget","tag-business","tag-china","tag-christmas","tag-companies","tag-cyprus","tag-environment","tag-europe","tag-fashion","tag-geopolitical","tag-google","tag-increase","tag-inflation","tag-logistics","tag-los-angeles","tag-poll","tag-prices","tag-rest","tag-revenue-growth","tag-services","tag-space","tag-spain","tag-spring","tag-spring-sales","tag-sweden","tag-technology","tag-top","tag-uk","tag-upmarket-fashions","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nZara-owner 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