Inditex : Fine-tuning estimates while maintaining our view
>We give credit to a further acceleration: increasing estimates by 1-3% - We are fine-tuning our estimates post H1 results by between 1% and 3%. The main drivers for this increase are: 1/ the strong trading update: sales +9% at constant FX at the start of Q3 vs 2019, which compares to the +6% we were expecting for H2; and 2/ the strong guidance provided on the gross margin for FY: 57.5% +/-50bp vs. 56.5% in our estimates. Even though the reported H1 was below our esti...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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