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Zara-owner Inditex Q1 profit beats forecasts as sale boon continues

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Zara-owner Inditex Q1 profit beats forecasts as sale boon continues

MADRID/LONDON, June 7 (Reuters) – Zara-owner Inditex (ITX.MC) said on Wednesday sales of its spring-summer collection jumped by 16% over the past month, in a sign the fast fashion retailer can continue its strong run despite higher wage costs and the loss of its Russian business. The results came as the world’s biggest fast fashion … [Read more…]

Japan’s Uniqlo to exit Russia, paving the way for sale of business – newspaper

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Japan’s Uniqlo to exit Russia, paving the way for sale of business – newspaper

May 24 (Reuters) – Japanese brand Uniqlo has decided to leave Russia after suspending its operation there last year, opening the path for a sale of the business, the daily Izvestia cited Russia’s deputy trade minister as saying. Uniqlo owner Fast Retailing (9983.T) suspended the clothing brand’s operations in Russia in March of 2022, joining … [Read more…]