Bryan Garnier - Inditex (ITX SM) (ITX SM) INDITEX: Q3 results: top line progressed faster than margins | BUY | EUR33(+17%)

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Bryan Garnier

Cedric Rossi

INDITEX: Q3 results: top line progressed faster than margins | BUY | EUR33(+17%)

INDITEX - BUY | EUR33(+17%)
Q3 results: top line progressed faster than margins

Solid top line performance with +8% Yo2Y…
… but GM (60.9%) was short of expectations (61.2-61.3%e)
Punctual inventory increase reflecting a stock build-up?
Robust trends in the first half of Q4 (+10% Yo2Y)

15/12/2021 5 EN

Underlying

Inditex (ITX SM)

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Provider

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.

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Analysts

Cedric Rossi

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INDITEX: Q3 results: top line progressed faster than margins | BUY | EUR33(+17%)

INDITEX: 4Q’24 RESULTS (ANÁLISIS BANCO SABADELL)

INDITEX: RDOS. 4T’24 (ANÁLISIS BANCO SABADELL)

INFORME DIARIO 12 MARZO + RDOS. EUROPA 4T’24. PREVIEWS (ANÁLISIS BANCO SABADELL)

ONWARD: from brainGPT to ARC-BCI – fireside chat with the founders

Avantium: joint-development progress in textiles

Egetis: Article highlights Emcitate's broad efficacy in MCT8 deficiency

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