Key Developments: Inditex S.A. (IDEXY.PK)
25.64USD
22 May 2013
$-0.77 (-2.92%)
$26.41
$26.39
$26.39
$25.62
21,603
35,331
$29.37
$15.85
Latest Key Developments (Source: Significant Developments)
Inditex SA Announces Further Details On FY 2012 Dividend Payment
Inditex SA announced that the total amount of dividend for fiscal year 2012 is EUR 1,130 million. Full Article
Inditex SA To Propose FY 2012 Dividend Payment
Inditex SA announced that its Board of Directors agreed to submit to the shareholders for approval a dividend payment for fiscal year 2012 at a value of EUR 2.20 per share, which represents an increase of 22%. The dividend will be composed of an ordinary dividend at a value of EUR 1.90 per share and an extraordinary dividend at a value of EUR 0.30 per share. The amount of EUR 1.10 per share will be distributed on May 2, 2013 as an ordinary dividend, and the amount of EUR 1.10 per share will be distributed on November 4, 2013, as an extraordinary and complementary dividend. Full Article
Stockmann Oyj Abp and Inditex SA End Franchising Cooperation in Finland; Stockmann Sells Z-Fashion Finland Oy to Inditex
Stockmann Oyj Abp announced that Stockmann and Inditex SA, the owner of the Zara store concept, have agreed to end the franchising cooperation in Finland as of March 1, 2013. Stockmann is currently operating four Zara franchising stores in Finland. The stores will be transferred to Inditex through a sale of Stockmann's subsidiary Z-Fashion Finland Oy that is responsible for the franchising business. All the current Zara stores and their personnel of approximately 180 employees continue as part of Z-Fashion Finland, under the Inditex Group. Revenue of Z-Fashion Finland totaled EUR 22 million in 2012. The franchising co-operation started in 2002 and the cumulative operating profit for Stockmann is slightly positive. The purchase price covers the net assets of Z-Fashion Finland in the balance sheet. Full Article
Inditex SA Sees China Expansion Continuing For Next Few Years-Reuters
Reuters reported that Inditex SA expects its rate of new store openings in China to continue at a similar rate for the next few years. Full Article
Inditex SA Plans over 16 New Zara Stores in Romania by End of 2013-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that Inditex SA plans to increase the number of stores it operates under the Zara brand in Romania to more than 100 by the end of 2013. The Company currently operates 84 Zara stores in Romania and plans to open four new ones by the end of 2012. Full Article
India's Government Rejects Inditex Group’s Application To Sell Massimo Dutti Brand Via Joint Venture With Trent Ltd-Reuters
Reuters reported that Inditex Group announced that India's government has rejected its application to sell Massimo Dutti brand in the country via a joint venture with Tata Group’s Trent Ltd. The application made by Inditex’s unit Zara Holdings BV to sell a more upscale brand was rejected by the Foreign Investment Promotion Board (FIPB). Full Article
Inditex SA Announces FY 2011 Dividend Payment; Appoints External Auditor
Inditex SA announced that its shareholders, at the Ordinary Shareholders’ Meeting held on July 17, 2012, approved a dividend payment for fiscal year 2011 at a gross value of EUR 1.80 per share (an ordinary dividend at a value of EUR 1.60 per share and an extraordinary dividend at a value of EUR 0.20 per share). The dividend of EUR 0.90 per share was already distributed on May 2, 2012 and the remaining payment of EUR 0.90 per share will be effective on November 2, 2012. The Company also announced the appointment of Deloitte SL as its External Auditor for fiscal years from 2012 to 2014, both included. Full Article
Inditex SA Acquires Property To Open New Zara Store In London-Reuters
Reuters reported that Inditex SA announced that it has acquire a 7,000 square-meter property for new Zara store, located on the corner of Oxford Street and New Bond Street in London, the United Kingdom, at a value of GBP 155 million . The seller was the German fund manager Deka. Full Article
Inditex SA To Continue Expansion As Profit Soars-DJ
Dow Jones reported that Inditex SA expects to open about 130 stores a year in China alone over the next few years, representing about a third of its annual store openings. The Company entered the Chinese market five years ago and expects to have 425 stores in 50 cities in the largest Asian economy by the end of 2012. Inditex SA currently has 275 stores in China. Full Article
Inditex SA To Increase 2011 Dividend Payment-Reuters
Reuters reported that Inditex SA is planning to increase a dividend payment for fiscal year 2011 by 12.5% to a total of EUR 1.80 per share. Full Article
Exclusive: Bangladesh factory banned by Wal-Mart still makes Wrangler shirts
GAZIPUR, Bangladesh - A Bangladesh factory where Wal-Mart Stores Inc and Inditex SA inspectors spotted cracks in the wall this month is still making Wrangler shirts for the world's largest apparel maker, U.S.-based VF Corp.
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