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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Inditex - Industria de Diseño Textil    ITX   ES0148396007

INDITEX - INDUSTRIA DE DISEÑO TEXTIL (ITX)
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Inditex : Fiscal Year 2017 Net Profit Rose on Strong Performance at All Stores

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03/14/2018 | 07:40am CEST

By Anthony Shevlin

Spain's Inditex (ITX.MC) said Wednesday that net profit for fiscal 2017 rose due to strong performances across all of its stores.

The company, which owns the Zara chain of stores, said net profit for the year ended Jan. 31 was 3.37 billion euros ($4.16 billion) compared with EUR3.16 billion in the previous period. The company said its net profit in the fourth quarter was EUR1.03 billion, ahead of analysts' estimate of EUR1.01 billion.

Sales for the year increased 9% to EUR25.34 billion, driven by the solid performance of its Zara stores, where sales rose 7%. Earnings before interest and taxes were EUR4.31 billion, compared with EUR4.02 billion the previous year.

The company said it plans to pay a dividend of EUR0.75 a share, up from EUR0.68 a share the previous year.

In addition, Inditex said it has appointed Carlos Crespo as chief operating officer.

The company sees ordinary capital expenditure of around EUR1.50 billion for 2018, driven mainly by the addition of new space in prime locations. Inditex says it expects 4% to 6% growth in new space at prime locations in subsequent years in conjunction with its global online sales rollout.

For fiscal 2018, the company estimates space growth in prime locations of around 6% net of absorptions. The company expects 350 to 400 gross openings and the selective absorption of around 200 during the year.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

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Financials (€)
Sales 2019 26 789 M
EBIT 2019 4 491 M
Net income 2019 3 516 M
Finance 2019 6 935 M
Yield 2019 2,87%
P/E ratio 2019 24,19
P/E ratio 2020 22,13
EV / Sales 2019 2,91x
EV / Sales 2020 2,65x
Capitalization 84 929 M
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Technical analysis trends INDITEX - INDUSTRIA DE DIS
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 30,9 €
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Pablo Isla Álvarez de Tejera Chairman & Chief Executive Officer
Carlos Crespo González Chief Operating Officer
José Ignacio Fernández Chief Financial Officer
Gabriel Moneo Marina Chief Information Technology Officer
Amancio Ortega Gaona Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-6.18%99 769
KERING15.70%67 453
FAST RETAILING CO LTD24.62%53 502
ROSS STORES20.16%36 399
PRADA S.P.A.25.62%11 293
MICHAEL KORS HOLDINGS15.47%10 859