Inditex : Above-industry results should remain in a tougher environment
>Strong sales growth to continue despite some potential deceleration - We expect Q3 results to maintain strong sales growth of 8.5% y-o-y following the positive data reported in Q2 and assuming some deceleration in the second half of the quarter from a very strong start (trading was +11% y-o-y at constant FX from August 1 to September 11). Partially offsetting this strength, the dollar appreciation of the last few quarters should weigh on the gross margin, with a 35b...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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