|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||16.64 - 16.80|
|52 Week Range||12.22 - 16.80|
|Beta (3Y Monthly)||0.85|
|PE Ratio (TTM)||25.82|
|Forward Dividend & Yield||0.49 (3.08%)|
|1y Target Est||39.92|
Many high street fashion stores may be struggling. But not, it seems, Zara. Owner Inditex on Wednesday (December 11) forecast full-year growth of up to 6%. The world's largest clothing retailer also posted a third quarter profit of almost 1.2 billion euros - about 1.3 billion dollars. That was slightly ahead of analyst forecasts. Revenue for the period hit 7 billion euros. Inditex says it benefited from tight control over expenses, including keeping inventories to a minimum. That even as it enlarged and improved flagship stores. By contrast arch-rival H&M has battled with rising inventories as its sales slowed. On an otherwise flat day for stocks, Inditex shares rose 2% in early trade Wednesday. They're now up close to 30% so far this year.
Inditex, owner of fashion chain Zara, shrugged off malaise affecting the broader apparel sector to post strong profit growth on Wednesday and forecast full-year same-store sales of up to 6%. At a time when fashion retailers are struggling to adapt to changing shopping habits, Inditex has benefited from its ability to quickly deliver small batches of the latest designs to consumers due to its fast and flexible sourcing arrangements. The Spanish retail giant reported a net profit of 1.17 billion euros ($1.3 billion) for the third quarter - slightly above analysts' expectations and up 14% from the year-ago period.
Inditex, the world’s largest clothing retailer, reported a 12 per cent jump in net profit to €2.7bn in the first nine months of the year, helped by a rollout of stock-tracking technology and flagship store openings. The owner of brands including Zara, Massimo Dutti and Pull & Bear said net sales for the period were up 7.5 per cent to €19.8bn, net cash was at a record €7.7bn, and that it expected full-year like-for-like sales growth of 4 to 6 per cent. Pablo Isla, executive chairman, said new chips had helped it cut inventories — which were down 5 per cent from a year earlier — giving the company greater flexibility to introduce new fashions during the season.
The performance of Spanish fashion group Inditex — owner of the Zara brand — has been impressive indeed. Two-thirds of Inditex’s sales are from Zara, whose superfast supply chain can take products from design to sales in four to six weeks, with 24,000 products developed a year. The core of Zara’s fast-fashion innovation is its super-agility and the way it reconfigured the conventional supply chain.
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Amancio Ortega, the founder of retailer Inditex, is close to acquiring McKinsey’s London headquarters for £600m, in the billionaire’s latest bet on the top end of the UK property market. A person with knowledge of the transaction confirmed that the purchase of the Post Building by Pontegadea, the 83-year-old’s real estate vehicle, was due to be announced imminently. Pontegadea, which holds a majority stake in Inditex, the group whose brands include Zara and Massimo Dutti, uses the retailer’s dividends to buy property.
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The world's biggest fashion retailer, Inditex, on Wednesday reported weaker-than-expected growth in profit margins in the first half of the year, knocking its shares lower. First-half gross margin, a measure of profitability, was up 12 basis points, prompting some analysts to estimate margins actually fell in the second quarter. Inditex, owner of Zara, does not break out second quarter profit margins.
BEIJING/MADRID (Reuters) - Spanish fashion brand Zara, seeking to avoid becoming embroiled in controversy over protests in Hong Kong, issued a statement on Chinese social media expressing support for China's sovereignty over the Asian financial hub. Zara, owned by the world's biggest clothing retailer Inditex , made its statement late on Monday after Hong Kong newspaper Ming Pao asked if closure of four Hong Kong Zara stores on Monday was in support of a student strike, prompting comment from millions of mainland social media users. Zara said in its statement on China's Weibo social media platform that it supported the "one country, two systems" policy under which China rules Hong Kong and said it had not supported strikes.
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Amancio Ortega, Europe's richest man and founder of retailer Inditex , had commercial property assets worth nearly 10 billion euros ($11 billion) at the end of 2018, up 11.5 percent from the previous year according to his investment firm on Wednesday. Using the huge dividend payouts from Inditex, octogenarian Ortega has made largely debt-free purchases of buildings ranging from prime shopping real estate in London and New York to office buildings in central Madrid. Most of Ortega's commercial holdings have been consolidated into a company called Pontegadea Inversiones which owns a 50.01 percent stake in Inditex alongside billions of euros in real estate investments.
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