Link Securities | Inditex (ITX) has renewed the extraordinary incentive for its store employees in Spain and will pay a bonus of €1,500 to nearly 30,000 workers in their February payroll, according to Expansión newspaper. This payment is linked to the commercial performance targets of each store. In ITX’s 2025 financial year, which ended on 31 January, more than 99% of the group’s stores in Spain achieved an incentive equal…
Link Securities | Under the current authorisation granted by the Ordinary General Shareholders’ Meeting on 11 July 2023 for the derivative acquisition of treasury shares, the Board of Directors of Inditex approved, at its meeting held last week, a Temporary Share Buyback Programme with the following characteristics: The purpose of the Programme is to enable Inditex to comply with its obligations to deliver shares to certain members of the management…
Jefferies | Impressive Q3 results… with group sales/EBIT of €9.81bn/€2.37bn (cons €9.71bn/€2.25bn) for Aug-Sep, this for ex fx growth of +8.4% (versus cons of +7.8% and buyside apparently somewhere between 7% and 8%) which follows the 9% of current trading disclosed for 1-Aug to 8-Sep. Gross margin landed at +79bps year-on-year to 62.2%, versus cons/JEFe of +8bps/+55bps. EBIT margin progress was good (in light of fx sales dilution of -3.5%…
Banc Sabadell | We expect comparable sales growth in Q3 2025 (published 03/12) of 7.8%, representing a normalisation in the second half of the quarter to a solid 7% (versus 9% indicated in the trading update, Aug/8-Sep). At a reported level, it will fall to +3.8%, still penalised by the exchange rate effect. We expect some improvement in gross margin (10 bps to 61.6%), favoured by a comparable base, which,…
Link Securities | Inditex (ITX) has set its sights on Las Vegas (Nevada, United States), with the opening of a store in Caesars Palace, one of the largest gaming and shopping establishments in the state, according to a report on Tuesday by Expansión. Inditex announced that it will open a Zara flagship store in The Forum Shops at Caesars Palace, the shopping centre of the famous hotel and casino. The…
Alphavalue/ Divacons | The Spanish fashion company plans to bring Lefties to London to compete directly with Primark. Although Zara continues to pursue a more premium positioning, the group is diversifying with low-cost brands, and Lefties fits into this segment, which has benefited from tight consumption. After growing in Spain, Portugal and Mexico, it is now expanding into France and the United Kingdom. Its great advantage over Shein, Temu and…
Alphavalue / Divacons | Shares in the Spanish fashion company rose 0.75% yesterday after UBS raised its recommendation to ‘buy’ from “neutral” and raised its target price from €48 to €52 thanks to a business model ‘based on local sourcing and the integration of physical and online sales’. Our analysts give Inditex upside potential of almost 10%. Meanwhile, José María Castellano, former CEO and vice-chairman of Inditex, passed away yesterday…
CdM | The textile company posted a net profit of €2.791 billion during the first half of its 2025-2026 fiscal year (between 1 February and 31 July), representing an increase of 0.8% over the previous year, according to Europa Press this morning. Inditex has thus once again achieved new records with its results, albeit with more moderate growth, below analysts’ forecasts. However, the company has highlighted the ‘strong’ start to…
Alphavalue/DIVACONS | On Tuesday, Óscar García Maceiras, CEO of the textile group, informed the General Shareholders’ Meeting that Inditex (ITX) will face the tariff scenario imposed by Donald Trump through innovation, flexibility and diversification of its business model. Maceiras detailed the success of collaborations such as Zara and Zara Home’s ‘The Apartment’ and the opening of Zacafé in Madrid, as well as the expansion of new customer interactions in markets…
Link Securities | Inditex (ITX) CEO Oscar García Maceiras said that conditions are not right for the owner of Zara to return to Russia, more than two years after it sold its local business following the invasion of Ukraine, according to the Inditex newspaper. When asked what circumstances would be right for the group to return to the market, the executive told the Financial Times that ‘an environment that is…