Inditex: neglected after disappointing quarterly results

(CercleFinance.com) - Inditex lost 5% in Madrid, after the textile group published its accounts for its third financial quarter, marked by EPS of 0.
54 euros and taxable profit of 2.2 billion euros, respectively 5% and 6% below RBC expectations.

The Spanish owner of Zara, Pull&Bear and Massimo Dutti also missed the Canadian broker's forecasts for gross margin (61.5% vs. 61.9%) and sales (9.4 billion euros vs. 9.5 billion).

Inditex reported sales growth of 9% excluding currency effects since the start of its fourth quarter, slightly below the 10% anticipated by RBC, which maintains its 'market performance' opinion and its price target of 52 euros.

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