Inditex: H1 earnings slightly under expectations.
(CercleFinance.com) - The Inditex stock is down 1.
5% in Madrid today, after the Spanish textile group and parent company of the Zara brand name, amongst others, published interim earnings that were up 9% at 1.37 billion euros, slightly under the consensus of 1.39 billion euros.
Net sales increased by 11.5% to 11.7 billion euros over the first six months of its fiscal year (February to July), with 6% like-for-like growth, which as a whole was positive in its geographical areas.
In addition, Inditex targets revenues that are up 12% at constant exchange rates over the period from 1 August to 17 September, and has specified that its brand Zara will launch its online sales business in India on 4 October.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
5% in Madrid today, after the Spanish textile group and parent company of the Zara brand name, amongst others, published interim earnings that were up 9% at 1.37 billion euros, slightly under the consensus of 1.39 billion euros.
Net sales increased by 11.5% to 11.7 billion euros over the first six months of its fiscal year (February to July), with 6% like-for-like growth, which as a whole was positive in its geographical areas.
In addition, Inditex targets revenues that are up 12% at constant exchange rates over the period from 1 August to 17 September, and has specified that its brand Zara will launch its online sales business in India on 4 October.
Copyright (c) 2017 CercleFinance.com. All rights reserved.