LONDON — First-half net profits at Inditex, parent of fast-fashion brands including Zara and Massimo Dutti, climbed 0.7 percent to 951 million euros, or $1.25 billion, the company said, while the third quarter has got off to a solid start.
Sales were up 6.9 percent to 7.7 billion euros, or $10.09 billion, while sales in local currencies advanced 8 percent in the six months to July 31. The results were broadly in line with analysts’ projections.
All dollar figures have been converted at average exchange for the six-month period.
The group said it opened 95 stores in 40 markets during the period, bringing the total across 86 markets to 6,104.
Third-quarter store sales in local currencies climbed 10 percent in the period between Aug. 1 and Sept. 14.
Inditex said the most noteworthy store openings in the last six months included Pull&Bear’s first store in Berlin’s busiest shopping district; the first Zara Home stores in Japan, in Osaka and Yokohama, and the new Zara store on Istiklal Street in downtown Istanbul.
Later this month, Zara Home will enter the Swedish market, where it will open a flagship in Stockholm, while later this year a Massimo Dutti will open on Rue de la Paix in Paris, and Zara stores will land in Seattle and in Port Elizabeth, South Africa. Zara Home is also planning to open stores in Paris and Barcelona.
Cantor Research in London called the results “encouraging against a period with challenging comparables.”
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive