(AOF) – In Madrid, Inditex rose 4.51% to 45.91 euros. For its first quarter, the owner of seven brands including Zara, Bershka and Massimo Dutti reported a net profit of 1.29 billion euros, an improvement of 11%. The group’s sales amounted to 8.15 billion euros over the period, up 7% and in line with analysts’ expectations. Between May 1 and June 3, its sales at constant exchange rates increased by 12%.
The gross margin for the past quarter increased slightly, to 60.6%, compared to 60.5% a year earlier, while the operating margin increased from 19.5% to 20.1%.
“Inditex has once again achieved strong operational performances”, underlines the Galician group which announces a new “logistics expansion plan” in view of the “significant possibilities for future growth”.
The Iberian ready-to-wear giant has planned to invest 900 million euros per year until 2025 in the expansion of its logistics capacity, mainly in Europe.
Faced with the offensive of the Chinese Shein, which could soon announce a planned listing on the London Stock Exchange, Inditex has confirmed its gross margin forecast for the financial year which will end at the end of January 2025.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
