Bryan Garnier - Inditex (ITX SM) (ITX SM) INDITEX: Soft points in Q4 but reassuring FY19 outlook | BUY | EUR33

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Bryan Garnier

Cedric Rossi

INDITEX: Soft points in Q4 but reassuring FY19 outlook | BUY | EUR33

INDITEX - BUY | EUR33(+25%)
Soft points in Q4 but reassuring FY19 outlook

Q4 LFL (+4%): a touch softer but improved vs. Q3 (+2%)
Slight Q4 GM miss: FX was less supportive than expected
More favourable shareholders return
FY19 outlook: ITX guides on +4-6% LFL

13/03/2019 4 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: Soft points in Q4 but reassuring FY19 outlook | BUY | EUR33

INDITEX: 1Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

INDITEX: RDOS. 1T’25 (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 11 JUNE (ANÁLISIS BANCO SABADELL)

Egetis: Submits pre-NDA meeting, positive recruitment update

Faron: Positive FDA feedback sends BEX into a registrational phase 2/3 study

Fastned: H1 results, GM recovery, roll-out acceleration expected in H2

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