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Inditex: Record Sales With 11% Fewer Shops

Inditex’s (ITX) net profit for the first nine months of its fiscal year (1 February 2021 to 31 October 2021) rose 273% to 2.5 billion euros. In the watertight third quarter, the textile company said sales, profit before tax and net profit reached an all-time high. During the third quarter of 2021, sales growth at constant exchange rates progressively accelerated to 21% compared to the third quarter of 2020 and…


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Marta Ortega Replaces Pablo Isla As Chairman Of Inditex

The Board of Directors of Inditex, at the initiative of its Chairman Pablo Isla and founder Amancio Ortega, and following the proposal of the Nomination Committee, has approved the appointment of Marta Ortega Pérez as Chairman of the Group. She will be a proprietary director, an appointment that will be effective as from 1 April 2022. On the other hand, Óscar García Maceiras, until now Secretary General and Secretary of…


Inditex

Inditex’s Owner Enters Renewables Business In Partnership With Repsol

The Spanish oil company has announced an agreement with Pontegadea, Amancio Ortega’s investment company, to partner in its first operational wind farm in Spain, representing the investment group’ first renewables deal. Specifically, Pontegadea will invest 245 million euros to take 49% of the Delta wind farm, valued at 500 million, a project with an installed capacity of 335 MW located in the province of Zaragoza (Spain). The remaining 51% of…


Inditex

Inditex Sells 9% More Than In H1 2019

Link Securities | Inditex (ITX) has presented its results for the first half of its fiscal year (H1 2021), which runs from February to July, achieving record sales, EBITDA and profits. Revenues came in at €11.936 billion, 49% higher than in H1 2020, and in line (-0.3%) with the figure expected by FactSet’s analysts’ consensus. At constant exchange rates revenues grew by 53%. Online sales at constant exchange rates rose…


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Inditex Today Approves A Dividend Of EUR 0.70 Per Share

Inditex (ITX) today holds its Annual General Meeting of Shareholders where, amongst other matters, it will approve the payment of a gross dividend of 0.70 euros per share. This will be divided into an ordinary dividend of 0.22 euros gross per share and an extraordinary dividend of 0.48 euros gross per share. On the occasion of the AGM, in an interview with the newspaper Expansión, Inditex Chairman, Pablo Isla, gave…


Inditex results

Inditex, With €7 billion In Cash, To Resume Dividend (€0.7 Per Share)

Inditex earned 421 million euros in the first quarter of its fiscal year (1 February to 30 April) compared to a loss of 409 million euros a year earlier. The company’s sales were 4.942 billion euros, up 50% from 3.303 billion euros in the first quarter of 2020. Online sales at constant exchange rates grew by 67%. Key figures compared to Bloomberg consensus: Sales €4.942bn (+49.6%) vs €4.880bn (+47.7%) expected….


Inditex results

Inditex Enters The Cosmetics Business With Zara Beauty

T.C. | The world leader in the textile sector, Inditex, today announced its foray into the world of cosmetics from Wednesday 12 May, with the launch of a new cosmetics line, Zara Beauty. It “will be integrated as another section and will be available online in all European markets, USA, Canada, China, South Korea, Japan, Mexico, Australia and New Zealand.” Later, it will be incorporated in all countries and have…


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The Two Sides Of Inditex’s 2020 Results: Profit Falls By 70%, Online Sales Grow By 77%

Inditex’s results in the year of the pandemic have shown an annual drop in profit and revenues of 70% and 28%, respectively, although the counterpart for the company has been the rapid conversion of its business model to the online environment, with internet sales growing by 77%. On the other hand, Inditex’s Board of Directors will propose a €0.70 per-share dividend at the Annual General Meeting scheduled for July. It will consist of an ordinary dividend of €0.22 and an extraordinary dividend of €0.48 per share.


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Inditex Returns To Profitability And Generates €734 M Net Cash In The Second Quarter

Inditex has seen a “rapid recovery” in the second half of its fiscal year 2020-2021, after returning to profits of 214 million euros in this period (between 1 May and 31 July), and leaving behind the loss of 409 million euros in the first three months. Sales recovered from -44% in the first quarter to -31% in the second quarter, despite as many as 87% of the Group’s stores still being closed in May. Today, 98% of Inditex’s stores are open, with restrictions still in place in some specific markets.


Inditex results

The Apparel Retail Sector Has A 15% Upside Potential, Partly Due To Inditex

Alphavalue Research | The industry is still a question mark: the shift to online purchases, to what extent buyers will need to see, touch and feel a product before making up ones’ mind. However with a 15% upside potential, the sector is nearly at acceptable prices. This is entirely due to Inditex (27% upside) and M&S (25% upside but best avoided). The fact that Zalando or Next do not trade wildly above their target prices may also indicate that a Buy window has opened. Time to dip a toe again.