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    ITX   ES0148396007


Real-time Estimate Quote. Real-time Estimate Tradegate - 09/21 03:59:58 pm
32.26 EUR   +1.54%
05:22aINDITEX : EU Commissioner for Environment tours Inditex's facilities
09/16INDITEX : Goldman Sachs remains Neutral
09/16INDITEX : Deutsche Bank reiterates its Sell rating
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Spain's Inditex books 421 mln euro profit for Q1, beats estimates

06/09/2021 | 02:16am EDT

, paragraph 3)

LISBON, June 9 (Reuters) - Spanish retail giant Inditex reported a first-quarter net profit of 421 million euros ($513 million) on Wednesday, a number that easily beat analysts' expectations but was still a third below pre-pandemic levels for the same period a year ago.

Six analysts polled by Refinitiv had estimated a net profit of 359.29 million euros for the home of the Zara clothing chain.

Revenue for the February-April quarter reached 4.9 billion euros, 48% more than in the first quarter of 2020, but still well short of 2019's 5.93 billion euros.

Online sales were up by two-thirds from last year as lockdowns kept stores across the world closed or operating under limited capacity for much of the quarter.

The company said 98% of its stores had reopened by June 6, but with around 10% fewer opening hours available due to pandemic-related restrictions. A total of 24% of business hours were lost through the quarter to store closures and restrictions.

Sales between May 1 and June 6 more than doubled compared with the same period last year, and were up 5% compared with the same period in 2019, indicating a post-lockdown spike in demand also seen by other retailers including Next and Abercrombie & Fitch Co..

"The results show a progressive recovery even as they have been materially affected by the health situation with the temporary closure of stores in key markets like the U.S., France, Germany, Italy, Portugal and Brazil," the company said.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at 1.23 billion euros, nearly triple last year's earnings, but still 27% below 2019 levels.

The company's shares closed at 32.3 euros on Tuesday, matching pre-pandemic levels for the first time since March 2020.

($1 = 0.8211 euros) (Reporting by Victoria Waldersee; Editing by Inti Landauro and Kenneth Maxwell)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.74% 6.1981 Delayed Quote.-2.35%
INDITEX 2.01% 32.41 Delayed Quote.22.00%
NEXT PLC 0.72% 8080 Delayed Quote.13.21%
All news about INDITEX
05:22aINDITEX : EU Commissioner for Environment tours Inditex's facilities
09/16INDITEX : Goldman Sachs remains Neutral
09/16INDITEX : Deutsche Bank reiterates its Sell rating
09/15INDITEX : JP Morgan remains its Buy rating
09/15INDITEX : RBC reiterates its Neutral rating
09/15GLOBAL MARKETS LIVE : Microsoft, Apple, The Boeing Company, AT&T, Activision Blizzard...
09/15INDITEX : RBC reaffirms its Neutral rating
09/15INDITEX : Gets a Buy rating from JP Morgan
09/15INDITEX : Jefferies gives a Buy rating
09/15INDITEX : UBS reiterates its Neutral rating
More news
Analyst Recommendations on INDITEX
More recommendations
Sales 2022 27 455 M 32 192 M 32 192 M
Net income 2022 3 641 M 4 269 M 4 269 M
Net cash 2022 7 803 M 9 149 M 9 149 M
P/E ratio 2022 27,1x
Yield 2022 3,00%
Capitalization 101 B 118 B 118 B
EV / Sales 2022 3,39x
EV / Sales 2023 3,14x
Nbr of Employees 140 381
Free-Float 35,6%
Duration : Period :
INDITEX Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INDITEX
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 27
Last Close Price 31,77 €
Average target price 31,99 €
Spread / Average Target 0,69%
EPS Revisions
Managers and Directors
Carlos Crespo González Chief Executive Officer & Executive Director
José Ignacio Fernández Chief Financial Officer
Pablo Isla Álvarez de Tejera Executive Chairman
Gabriel Moneo Marina Chief Information Technology Officer
Emilio Saracho Rodríguez de Torres Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
INDITEX22.00%116 138
KERING5.77%91 995
FAST RETAILING CO., LTD.-19.29%71 265
ROSS STORES, INC.-6.67%40 203
HENNES & MAURITZ AB1.37%33 209
ZALANDO SE-0.37%26 725