Inditex Presents a Strong Nine-Month Interim Report; Shares Fairly Valued
Narrow-moat Inditex’s brand strength and supply chain advantages seemed firmly in place as the company announced 14.5% local currency sales growth, positive like-for-like growth in all geographical areas, and stable gross margin performance during the first nine months of fiscal 2016. We continue to believe that Inditex’s responsive supply chain and portfolio of strong brands will drive low-double-digit average annual revenue growth and operating margin expansion to almost 19% (from 17.6% at the...Industria de Diseno Textil Inditex is the parent company of a group engaged in apparel and footwear manufacturing and retailing. The Group is made up of fashion retail chains, textile manufacturing, purchasing and fabric treating companies, logistics and construction companies which are responsible for store refits and manufacturing structure. Products include men's, women's and children's wear collections, footwear, and women's lingerie which are sold through the Group's retail store chains of: Zara, Kiddy's Class, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, and Oysho and Zara Home.
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