Spain’s Inditex SA, owner of the Zara retail chain, beat analysts’ expectations with a 12 percent rise in net profits in fiscal 2011, and said it planned to continue expanding this year with both physical and online stores, including a Zara e-commerce site in China.
Europe’s largest clothing retailer registered net profits of 1.93 billion euros, or $2.68 billion, between Feb. 1, 2011, and Jan. 31. Its sales increased 10 percent to 13.79 billion euros, or $19.15 billion. The gross margin stood at 59.3 percent of sales, unchanged from the previous year.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)