Inditex: neglected after disappointing quarterly results
(CercleFinance.com) - Inditex shares lost 5% in Madrid, after the textile group published its accounts for Q3, marked by EPS of E0.
54 and taxable profit of E2.2bn, respectively 5% and 6% below RBC expectations.
The Spanish owner of Zara, Pull&Bear and Massimo Dutti also missed the Canadian broker's forecasts for gross margin (61.5% vs. 61.9%) and sales (E9.4bn vs. E9.5bn).
Inditex reported sales growth of 9% excluding currency effects since the start of its fourth quarter, slightly below the 10% anticipated by RBC, which maintains its 'market performance' opinion and its target price of E52.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
54 and taxable profit of E2.2bn, respectively 5% and 6% below RBC expectations.
The Spanish owner of Zara, Pull&Bear and Massimo Dutti also missed the Canadian broker's forecasts for gross margin (61.5% vs. 61.9%) and sales (E9.4bn vs. E9.5bn).
Inditex reported sales growth of 9% excluding currency effects since the start of its fourth quarter, slightly below the 10% anticipated by RBC, which maintains its 'market performance' opinion and its target price of E52.
Copyright (c) 2024 CercleFinance.com. All rights reserved.