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4-Traders Homepage  >  Equities  >  Bolsa de Madrid  >  Inditex SA    ITX   ES0148396007

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Inditex 1Q Net Profit Up 30% As Gross Margin Inches Higher

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06/13/2012 | 07:59am CEST
   By David Roman 
 

MADRID--Inditex SA (>> Inditex SA), the owner of fast-fashion pioneer Zara, Wednesday posted a strong 30% rise in net profit for its first quarter, driven by continued expansion in emerging markets.

The world's largest fashion retailer by sales, based in La Coruna, Spain, said net profit for the three months ended April 30 was EUR432 million, up from EUR332 million a year earlier. Analysts had expected net profit to come in at EUR379 million, according to FactSet.

Sales increased 15% to EUR3.42 billion, boosted by new store openings, while its gross margin rose to 60.2% from 58.8%. Inditex said it opened 464 new stores in the quarter, and had 5,618 stores in 84 countries as of April 30.

Because of its global expansion drive--the company has opened more than a store a day, on average, in recent years--Inditex is becoming less reliant on sales in Spain, now accounting for around a quarter of the total.

In contrast, it is expanding rapidly in the fast-growing markets of Asia and Latin America. In March the company said it expects to have 425 stores across China by the end of the year. Inditex and Swedish rival Hennes & Mauritz AB (HM-B.SK) are increasingly dominating the global fashion retail market. H&M in March posted continued profit growth and said it aims to expand its global store chain by 10% to 15% a year. H&M is due to report its second-quarter earnings on June 20.

Competitors such as Gap Inc. (GPS) are struggling to keep pace with the front two. The U.S. retailer last month posted unchanged first-quarter profit compared with a year earlier.

Inditex shares closed Tuesday at EUR67.58, valuing the company at EUR42.2 billion.

Write to David Roman at [email protected]

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Stocks mentioned in the article : Inditex SA
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Latest news on INDITEX SA
04/12 Spanish shares rise 1.12%
04/08 Spanish stock market rises 0.35%, closes at 10,361 points
04/07 INDITEX : Ortega shields Inditex stake to keep family control of Zara chain empi..
04/06 INDITEX : Exclusive - Zara founder shields Inditex stake to maintain family cont..
04/02 INDITEX : H&M invests in supply chain to compete with Zara
03/30 H&M invests in supply chain as fashion rivalry intensifies
03/29 INDITEX : Tempe opens Inditex's first ‘for&from' store in Madrid
03/28 Spanish stock market rises 0.93 pct Thursday
03/16DJToday's Top Supply Chain and Logistics News From WSJ
03/16 INDITEX : Giant payout for Zara boss
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01/03 FAST FASHION FOR LONG-TERM PROFITS : Zara's Parent Company Inditex
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Financials (€)
Sales 2018 26 296 M
EBIT 2018 4 733 M
Net income 2018 3 661 M
Finance 2018 6 471 M
Yield 2018 2,25%
P/E ratio 2018 28,94
P/E ratio 2019 25,61
EV / Sales 2018 3,81x
EV / Sales 2019 3,40x
Capitalization 106 558 M
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 36,5 €
Spread / Average Target 6,9%
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Managers
NameTitle
Pablo Isla Álvarez de Tejera Chairman & Chief Executive Officer
José Ignacio Fernández Chief Financial Officer
Gabriel Moneo Marina Chief Information Technology Officer
Amancio Ortega Gaona Non-Executive Director
Carlos E. D. L. M. Bernaldo de Quirós Director
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Sector and Competitors
1st jan.Capitalization (M$)
INDITEX SA5.43%114 280
FAST RETAILING CO LTD-16.07%34 125
ROSS STORES, INC.-1.07%25 441
L BRANDS INC-24.30%14 195
GAP INC14.13%10 250
ZALANDO SE5.81%10 059
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