Inditex : The very strong sales growth continues without sacrificing margins
>Slightly higher sales lead to EBITDA outperformance with a promising trading update - Inditex’s Q2 2022 results were above our estimates, due to stronger top-line growth (sales 3.3% above our estimates). This outperformance fed through to the rest of the P&L as an in-line gross margin (56.0% vs 55.8% expected) and similar opex as a percentage of sales (€ 2,428m or 4.2% above our estimates, i.e. 30.0% of sales vs 29.7% expected), did not change this pattern, leading...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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