Inditex: H1 results better than expected
(CercleFinance.com) - On Wednesday Inditex reported bigger-than-expected sales and earnings growth for H1 2022/2023, with the Spanish clothing giant benefiting from its spring/summer collections being warmly welcomed by customers.
This morning the world's largest retailer of ready-to-wear clothing reported a 41% rise in H1 net profit to 1.8 billion euros, above the consensus of 1.7 billion euros.
The clothing retailer, which in particular owns the Zara chain, posted 30% growth in EBITDA to four billion euros in the period from February to July, again above the consensus of 3.9 billion euros.
Meanwhile, quarterly sales rose 24.5% to 14.8 billion euros, again above the consensus of 14.6 billion euros, with sales up 25% at constant exchange rates.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
This morning the world's largest retailer of ready-to-wear clothing reported a 41% rise in H1 net profit to 1.8 billion euros, above the consensus of 1.7 billion euros.
The clothing retailer, which in particular owns the Zara chain, posted 30% growth in EBITDA to four billion euros in the period from February to July, again above the consensus of 3.9 billion euros.
Meanwhile, quarterly sales rose 24.5% to 14.8 billion euros, again above the consensus of 14.6 billion euros, with sales up 25% at constant exchange rates.
Copyright (c) 2022 CercleFinance.com. All rights reserved.