video MOST POPULAR
Zara-owner stretches lead over rivals, sales slowing
Wednesday, June 14, 2017 - 01:31
Inditex, the world's biggest clothing retailer and owner of the Zara brand, stretched its lead over rivals like H&M with an 18 percent rise in first-quarter profit. But, as Kate King reports, sales growth has slowed in recent weeks.
▲ Hide Transcript
▶ View Transcript
The world's biggest clothing retailer displaying its might. Spanish firm Inditex, owner of Zara, stretching ahead of its rivals reporting a first quarter profit of 733 million dollars That's an 18 percent rise. (SOUNDBITE) (English) RABOBANK, SENIOR CURRENCY STRATEGIST, JANE FOLEY, SAYING: "A very substantial proportion of the businesses within Inditex do report in local currencies meaning that the currency outlook can have a supportive impact, and well potentially it could have a more detrimental impact. And what the business is saying now is that they're looking for a little bit more stability in currencies and that should be supportive." Inditex opened 30 stores in the quarter, meaning it now has 7,385 outlets across the globe Close to half of them report their earnings in currencies other than the euro. Online growth is said to be helping the retailer But sales have slowed in recent weeks (SOUNDBITE) (English) RABOBANK, SENIOR CURRENCY STRATEGIST, JANE FOLEY, SAYING: "Many analysts are suggesting that younger people in general are more concerned with spending their money on activities rather than clothing and that has a negative potential for all the businesses in this space. So the results today are good although there is still some disappointment that that the margin wasn't as strong as expected." Despite rallying almost 13 percent in recent months shares in the retailer slipped 1.4 percent on news of the slow growth Inditex hoping that the trend doesn't mean it's going out of fashion.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
Zara-owner stretches lead over rivals, sales slowing
Wednesday, June 14, 2017 - 01:31
Top News »
2:16pm BST - (1:24)
2:06pm BST - (1:55)
2:26am BST - (1:29)
Mon, 23 Apr, 2018 - (0:56)
Mon, 23 Apr, 2018 - (0:52)
Mon, 23 Apr, 2018 - (1:12)
Mon, 23 Apr, 2018 - (1:56)
Mon, 23 Apr, 2018 - (0:45)
Sun, 22 Apr, 2018 - (1:06)
Sat, 21 Apr, 2018 - (2:00)
Sat, 21 Apr, 2018 - (1:58)
Sat, 21 Apr, 2018 - (1:03)
Editors' Picks »
1:14pm BST - (2:00)
10:00am BST - (1:36)
Fri, 20 Apr, 2018 - (1:24)
Fri, 20 Apr, 2018 - (2:04)
Thu, 19 Apr, 2018 - (0:57)
Thu, 19 Apr, 2018 - (1:45)
Tue, 17 Apr, 2018 - (2:44)
Tue, 17 Apr, 2018 - (2:15)
Mon, 16 Apr, 2018 - (1:59)
Business »
2:26pm BST - (1:50)
2:26pm BST - (1:32)
1:28pm BST - (1:13)
1:28pm BST - (1:46)
1:27pm BST - (1:39)
12:06am BST - (1:27)
Mon, 23 Apr, 2018 - (1:22)
Mon, 23 Apr, 2018 - (0:47)
Mon, 23 Apr, 2018 - (5:43)
Mon, 23 Apr, 2018 - (1:22)
Mon, 23 Apr, 2018 - (3:18)
Mon, 23 Apr, 2018 - (1:26)
Featured Videos
UK royals Kate and William have baby boy
It's a boy. Britain's Duchess of Cambridge has given birth to her third child, and second son, with husband Prince William
Aussie pilot Hall soars to victory in Cannes
Australian pilot Matt Hall claims victory in the second leg of the Red Bull Air Race world championship in Cannes, France
Luxury liner Queen Elizabeth II reopens as floating hotel
One of the world's most famous ships is now a floating hotel permanently moored at Dubai's Mina Rashid port
World Toad in the Hole Championships
The aim of the traditional pub game originating from France is to land as many large brass coins or 'toads' in a table's small hole
Tarantula burgers on the menu
For adventurous diners, tarantula topped burgers are available at a Durham, North Carolina restaurant as part of its ‘exotic meat’ month
Technology »
2:06pm BST - (1:48)
Mon, 23 Apr, 2018 - (1:55)
Sun, 22 Apr, 2018 - (1:30)
Fri, 20 Apr, 2018 - (1:50)
Thu, 19 Apr, 2018 - (1:54)
Thu, 19 Apr, 2018 - (0:46)
Wed, 18 Apr, 2018 - (1:03)
Wed, 18 Apr, 2018 - (1:01)
Wed, 18 Apr, 2018 - (1:35)
Entertainment »
11:40am BST - (1:18)
10:06am BST - (1:25)
8:16am BST - (2:02)
Mon, 23 Apr, 2018 - (1:28)
Mon, 23 Apr, 2018 - (1:39)
Mon, 23 Apr, 2018 - (2:11)
Mon, 23 Apr, 2018 - (1:50)
Mon, 23 Apr, 2018 - (0:39)
Sat, 21 Apr, 2018 - (1:24)
Sat, 21 Apr, 2018 - (0:59)
Sports And Leisure »
9:59am BST - (0:47)
Mon, 23 Apr, 2018 - (1:17)
Mon, 23 Apr, 2018 - (2:38)
Mon, 23 Apr, 2018 - (1:27)
Mon, 23 Apr, 2018 - (1:17)
Mon, 23 Apr, 2018 - (1:30)
Mon, 23 Apr, 2018 - (1:40)
Mon, 23 Apr, 2018 - (1:07)
Fri, 20 Apr, 2018 - (1:08)
Thu, 19 Apr, 2018 - (2:22)
Oddly Enough »
Mon, 23 Apr, 2018 - (0:45)
Fri, 20 Apr, 2018 - (1:00)
Fri, 20 Apr, 2018 - (1:27)
Thu, 19 Apr, 2018 - (0:53)
Thu, 19 Apr, 2018 - (0:53)
Tue, 17 Apr, 2018 - (1:33)
Tue, 17 Apr, 2018 - (1:27)
Thu, 12 Apr, 2018 - (0:49)
Dateline Asia »
Tue, 05 Dec, 2017 - (2:06)
Tue, 05 Dec, 2017 - (2:11)
Fri, 01 Dec, 2017 - (2:04)
Thu, 30 Nov, 2017 - (2:10)
Thu, 30 Nov, 2017 - (2:14)
Wed, 29 Nov, 2017 - (2:11)
Tue, 28 Nov, 2017 - (1:55)
Tue, 28 Nov, 2017 - (2:21)
Mon, 27 Nov, 2017 - (2:25)
Fri, 24 Nov, 2017 - (2:16)
Fri, 24 Nov, 2017 - (2:14)
Thu, 23 Nov, 2017 - (2:18)