inditex

Spanish economy 12th June 2023

Inditex to propose long-term cash and share incentive plan targeting up to 750 executives

Alphavalue / Divacons | As was seen on Friday in the domestic press, the shareholders’ meeting of the Galician textile company on July 11th is expected to approve a long-term incentive plan in cash and shares for members of the management team, including executive directors, and other employees of the group who are invited to participate in the plan, up to a maximum of 750 beneficiaries. Specifically, the plan consists…

Spanish economy 7th June 2023

Inditex quarterly profit up 54% to record €1.168 billion

Inditex’s (ITX) net profit rose 54% in its first fiscal quarter (1 February 2023 to 30 April 2023), to €1.168 billion. Sales grew by 13% in the first fiscal quarter, to €7,611 million, with a performance that has been described as “very satisfactory” both in shops and online. They also stressed that sales were positive in all geographic areas and in all formats. Sales at constant exchange rates were up…

Companies, Spanish economy 30th March 2023

Marta Ortega sketches line of continuity in management based on improved shopping experience and operating model efficiency

Link Securities | In an interview with the Financial Times, reported by Expansión, Inditex (ITX) Chairman and CEO Marta Ortega outlined a continuity in management based on improving the shopping experience and the efficiency of the group’s operating model, while maintaining the focus on sustainability. Ortega said that the product is the lifeblood of the group and where she can offer the most value, while she is on top of…

Spanish economy 15th March 2023

Inditex earnings up 27% to €4,130mm, dividend raised 29% to €1.20/share

ITX sales reached €32,569 million in 2022, up 17.5% year-on-year (+18.0% at constant rates; +0.1% FactSet consensus), with growth in all geographic areas where ITX operates, and in both physical and online shops. In-store sales increased 23% year-on-year, due to higher commercial traffic, while online sales rose 4% year-on-year, reaching a record €7,806 million, 23.97% of the total. Broken down by geographic area, 47.5% of sales came from Europe (excluding…

Relevant News Item, Spanish economy 10th February 2023

Inditex sets minimum wage of €18,000 for its 6,477 shop staff in Spain

Inditex has reached an agreement with the trade unions setting a fixed minimum wage from €18,000 for all employees in the shops of the group’s different brands throughout Spain, an amount to which will be added other variable payments such as those linked to seniority, commissions or night work, among others. It also approves aid for children and adoption, salary increases on Sundays and public holidays, higher commissions and bonuses….

Companies, Ibex, Spanish economy 17th December 2022

Resilient growth and margins, reasonable valuation, sustained cash generation: Buy Inditex (T.P. 27,5 euros/share)

Bankinter | Inditex’s Q3’22 results (August-October) met expectations. Sales were up 11% vs expected 9%. Despite some deterioration in a difficult context, margins are holding up at levels close to historic highs (M. EBIT 21.3% vs 21.7% in Q3’21). The Q4 kickoff, which includes the Christmas season (on average 30% of annual sales), is good. In the first 5 weeks (from November 1 to December 8) sales grew 12%, gaining…

Companies, Ibex, Relevant News Item 20th October 2022

Inditex is exploring the sale of its Russian business to an Asian partner

Bankinter | According to the Russian media, Inditex will transfer its assets there to partners in a “friendly” country in Soutb East Asia or the Persian Gulf. The solution would include Massimo Dutti, Oysho and Zara Home leaving the Russian market completely. Meanwhile other brands, particularly Zara, would operate under other names and with new collections from spring of 2023. It could take six months to a year to finalise…

Spanish economy 15th September 2022

Inditex Smashes Sales And Earnings Records: €1,794 mn (+41%)

Inditex (ITX) published on Wednesday its results for the first half of the 2022 fiscal year (since February 1 to July 31) with sales, EBITDA and net profit reaching record highs. Net profit for the period increased 41% to 1.794 billion. Revenues amounted to 14.845 bn (+24.5%). Sales at constant exchange rates grew by 25%. The company underlined that sales were positive in all geographic areas. The consolidated result (Ebitda)…

Ibex, Spanish economy 13th June 2022

Inditex: recent progress encourages a recovery of confidence unblocking the stock in the short-term

CdM |Inditex (ITX)’s first quarter results released on Wednesday beat expectations; the net profit figure reflects the provision for the suspension of activity in Russia and the Ukraine. Main figures compared with Bloomberg consensus: Sales 6.742 billion euros (+36.4%) vs 6.237 billion expected. Gross Margin 4.054 billion euros (+36.9%) vs 3.713 billion (e). This means a margin of 60.1% vs 59.9% in Q1 2021 and 59.5% expected. EBITDA 1.917 billion…

Spanish economy 29th April 2022

Inditex: a resilient model, but increasing risks and lack of visibility are blocking the stock short-term despite comfortable multiples

Bankinter | Inditex’s 2021 results (closed at 31 January 2022) have not met expectations and the outlook is deteriorating. The model is showing resilience, with strong cash flow generation. However, forecasts for 2022 are getting complicated. On the revenues side: activites in Russia and Ukraine suspended (9% of stores), outbreaks of Covid-19 in China (5% of stores) and the deterioration in confidence and purchasing power of consumers in Europe and…

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