Inditex : Very strong trading update more than offsets a slightly higher opex
>EBITDA miss of 2% in the quarter is more than offset by a +17.5% trading update - Inditex’s Q4 2022 results were slightly below our estimate at the P&L level due to a slightly higher general opex (4.3% above our estimates). This led to EBITDA being 2.1% below our estimate, while the solid gross margin performance (52.8% vs 52.1% expected) still led to a higher gross profit (€ 73m or 1.5% above). Reported sales were € 9,514m (€ 12m, or 0.1% above ODDO BHFe), gross pr...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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