Inditex : Strong outlook with a quarter still lagging our figures but slightly above consensus
>Still below our figures on higher opex but H2 bodes well; figures above consensus - Inditex’s Q2 2021 results were a touch below our estimates, mostly due to 1/ a tougher-than-expected impact from FX on sales (-3% vs -0.5% expected) that was partially offset by a higher gross margin, and 2/ higher opex (5% above). The figures were, however, slightly above the consensus (0% and 2% higher sales and EBITDA in Q2 respectively). Reported sales were € 6,994m (€ 230m, or ...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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