Report
Cedric Rossi

INDITEX: H1 2021 results: Top line is recovering a bit faster than margins | BUY | EUR33(+12%)

INDITEX - BUY | EUR33(+12%)
H1 2021 results: Top line is recovering a bit faster than margins

Q2 sales matched CS forecasts: a good top-line recovery
Q2 GM and EBIT a touch shy of CS expectations
Declining inventory levels towards healthier levels
Encouraging current trading: sales between 1st Aug – 9th Sep: +22%
Underlying
Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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