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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Industria de Diseño Textil, S.A.    ITX   ES0148396007

INDUSTRIA DE DISEÑO TEXTIL, S.A.

(ITX)
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H&M June comparable sales strongest since September

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07/15/2013 | 02:32am EDT
The company logo is placed at the flagship store of H&M, Hennes & Mauritz, HMb.ST, the world's second-biggest fashion retailer is seen in Stockholm

STOCKHOLM (Reuters) - Comparable sales at budget fashion retailer Hennes & Mauritz (>> H & M Hennes & Mauritz AB) grew at their fastest pace in nine months in June helped by strong demand for new collections.

STOCKHOLM (Reuters) - Comparable sales at budget fashion retailer Hennes & Mauritz (>> H & M Hennes & Mauritz AB) grew at their fastest pace in nine months in June helped by strong demand for new collections.

Sales at stores open a year or more were up 3 percent in local currencies from a year ago. The mean forecast in a Reuters poll of analysts had been for a 4 percent rise.

Total local-currency sales at H&M, the world's second-biggest apparel retailer after Zara owner Inditex (>> Inditex SA), were up 13 percent.

H&M had already unveiled 14 percent growth in the first 17 days of June, indicating a healthy start to its fiscal third quarter after consumer gloom and bad weather in its main market, Europe, led to more markdowns than planned and a larger profit drop than expected in the second quarter.

Chief Executive Karl-Johan Persson said at the time that new lines, more so than marked-down older items, had sold surprisingly well to date in June. But he cautioned this could be down to pent-up demand after chilly weather held back spring shopping, rather than a rise in underlying demand.

Apparel firms have faced tough times in Europe as the economic downturn and uncertain outlook make consumers hold on tighter to their wallets, and H&M has seen competition toughen in its low-price segment.

H&M, which has the bulk of its business in Europe, did not comment on the data on Monday.

H&M's shares, which are down 3 percent from a year ago but up 6 percent this year, trade at 22.8 times forecast 2013 earnings, closing in on Inditex' 23.4 times multiple, according to Thomson Reuters data.

(Reporting by Anna Ringstrom; Editing by Niklas Pollard)

Stocks treated in this article : Inditex SA, H & M Hennes & Mauritz AB
Stocks mentioned in the article
ChangeLast1st jan.
HENNES & MAURITZ -0.60% 205.7 Delayed Quote.64.30%
INDUSTRIA DE DISEÑO TEXTIL, S.A. 0.77% 28.75 End-of-day quote.28.64%
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Financials (EUR)
Sales 2020 28 029 M
EBIT 2020 4 953 M
Net income 2020 3 792 M
Finance 2020 8 140 M
Yield 2020 3,63%
P/E ratio 2020 23,6x
P/E ratio 2021 22,3x
EV / Sales2020 2,90x
EV / Sales2021 2,69x
Capitalization 89 543 M
Chart INDUSTRIA DE DISEÑO TEXTIL, S.A.
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Industria de Diseño Textil, S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends INDUSTRIA DE DISEÑO TEXTIL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 28,97  €
Last Close Price 28,75  €
Spread / Highest target 21,7%
Spread / Average Target 0,78%
Spread / Lowest Target -30,4%
EPS Revisions
Managers
NameTitle
Carlos Crespo González Chief Executive Officer & Executive Director
Pablo Isla Álvarez de Tejera Executive Chairman
José Ignacio Fernández Chief Financial Officer
Amancio Ortega Gaona Non-Executive Director
Emilio Saracho Rodríguez de Torres Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INDUSTRIA DE DISEÑO TEXTIL, S.A.28.64%99 063
KERING17.12%66 672
FAST RETAILING CO., LTD.25.69%63 828
ROSS STORES34.92%40 606
HENNES & MAURITZ64.30%34 988
ZALANDO88.50%11 634