Morgan Stanley | One of the main calls of our retail analyst Geoff Ruddell (and outside the consensus) is to short Inditex. There is no…
Morgan Stanley | Spanish group Inditex has published for the first time numbers by region and data which show that it is extending the useful life of its assets, increasing the capitalisation of its IT spending and reducing provisions.
Morgan Stanley | There is no doubt that Inditex (ITX) is a high quality and well-managed business with an impressive historical record.
Inditex has presented its results for the first half of the fiscal year (1 February – 31 July 2018). The company obtained a net profit of 1.409 billion euros, which means an increase of 3% compared to the 1.366 billion euros in the same period last year.
Morgan Stanley | For the first time since its flotation (17 years ago), we put the recommendation as Sell (underweight) with an Objective Price which falls from 26 to 21 Euros.
Inditex has opened its first store in the world with an integrated online section in Stratford (London). Apart from the traditional clothing lines for men, women and children, the store also has an online section with computerised collection points for goods.
Ana Fuentes/Carlos Díaz Güell | “We were a very poor country which in the last 40 years has made a spectacular transformation. Today there are over 150,000 companies which export regularly and have exported at least in the last three years”, explains Carlos Espinosa de los Monteros, High Commissioner for the Spain Brand (Marca España), and privileged observer of the economic reality in Spain and how its business class has evolved over the last few decades.
Inditex founder, Amancio Ortega, is still the person with the largest fortune in Spain, with 70 billion euros, followed by his daughter Sandra Ortega and and Mercadona chairman, Juan Roig. The three business people top the list of the 100 biggest national fortunes drawn up by Forbes.
Spanish retailer Inditex is the largest in Europe, more than twice the size of the number 2. Kering. With over 7,000 stores and 150,000 employees globally, it continues to outpace its rivals mainly due to its flexible business model.
This week Inditex approved the appointment of Baroness Denise Kingsmill to its board of directors, as well as a long-term incentive plan, in cash and shares, for up to 600 company executives, including chairman Pablo Isla. The company also said it will not alter any plans it has for the UK despite Brexit.