Report
Bridget Weishaar
EUR 101.80 For Business Accounts Only

Narrow-moat Inditex's online success spurs further market share gains.

With 2017 highlights that include 5% like-for-like sales growth (positive across all geographies and concepts), 41% online sales growth (mostly organic), and only a 20-basis-point decline in operating margin to 17% (due mostly to a 50-basis-point currency headwind to gross margin), we are even more confident in the strength of Inditex’s narrow moat and our long-term forecast. Therefore, we see little change to our five-year estimates calling for 9.7% average annual top-line growth, in line with ...
Underlying
Industria de Diseno Textil S.A.

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Bridget Weishaar

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