×
92 042
Fashion Jobs
NORDSTROM
Asset Protection - Security Ambassador - Willow Grove Park Rack
Permanent · Willow Grove
NORDSTROM
Asset Protection - Agent - Orem University Crossing Rack
Permanent · Orem
NORDSTROM
HR Business Partner, Supply Chain - Portland, or - Hybrid
Permanent · Portland
NORDSTROM
Asset Protection Agent - Victoria Ward Village Rack
Permanent · Honolulu
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Salisbury
GAP
Asset Protection Service Representative - Gloucester Premium
Permanent · Gloucester Township
GAP
Asset Protection Service Representative - Atlantic City Tanger
Permanent · Atlantic City
NIKE
Materials Costing Manager
Permanent · Beaverton
CONVERSE
Retail Operations Manager
Permanent · Boston
NIKE
Art Director
Permanent · Beaverton
NIKE
Digital Loss Prevention Data Analyst - North America Nike Direct Digital Commerce (Remote Option*)
Permanent · Beaverton
NIKE
Director, Technical Product Management – Tech Ops Resilience (Remote Option*)
Permanent · Beaverton
NIKE
Director, Technical Product Management – Enterprise Service Management HR Service Delivery
Permanent · Beaverton
NIKE
Content Manager
Permanent · Los Angeles
CONVERSE
Senior Financial Analyst, Global Business Planning
Permanent · Boston
NIKE
Tech Finance Analyst
Permanent · Beaverton
NIKE
Nike Security Manager – Foothill Ranch
Permanent · Lake Forest
NIKE
Nike Security Manager – Los Angeles
Permanent · Los Angeles
NIKE
Lead Technical Product Manager, Privacy (Remote Option*)
Permanent · Beaverton
NIKE
Finance Data Product Owner
Permanent · Beaverton
NIKE
Senior Technical Product Manager (Remote Option*)
Permanent · Beaverton
NIKE
Global Store Operations Manager
Permanent · Beaverton
By
Reuters
Published
Dec 10, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Strong start to Christmas season at Zara-owner Inditex

By
Reuters
Published
Dec 10, 2015

Profit at Inditex, owner of fast fashion group Zara, rose by one fifth in the nine months to October, with its on-trend offer making a sprightly start to the Christmas season.

Profit of 2.02 billion euros ($2.22 billion) showed the group has kept abreast of the mild weather which has dulled demand for heavier winter clothes around Europe, reflected in weak retail sales data in countries such as Britain.


Inditex


Sales at the world's biggest fashion retailer in the four weeks from Nov. 1 to Dec 3 rose 15 percent, as did sales in constant currencies in the nine-month period, a tad slower than in previous quarters.

"We can say that Inditex is trading just as strongly in the fourth quarter to date as it did in the third," Societe Generale analyst Anne Critchlow said, adding that the numbers should support the share price.

Many market watchers have flagged the rich valuation of its shares, trading at around 34 times 2016 projected earnings, according to Reuters data, versus 24 times 2016 earnings for rival Hennes & Mauritz. Inditex shares have rallied 37 percent so far this year.

Zara, Inditex's leading label, wowed shoppers this season with a minimalist straight-cut look, teaming muted colours with ankle boots and trousers of all shapes and lengths.

Inditex, a global fashion group headquartered in Spain and operating under nine brands, said growth of store space had been in line with its plans, and like-for-like sales growth had been "solid", without elaborating further.

However, gross margin, a closely-watched measure of profitability, slipped to 58.8 percent from 59.4 percent last quarter, likely affected by a strong U.S. dollar which increases its supplier costs in Asia.

But this affects Inditex less than its peers because it tends to source closer to home, helping it to lend itself more quickly to changes in tastes and deliver them speedily.

Core earnings (EBITDA) rose 18 percent to 3.33 billion euros, in line with a Reuters poll.

The company will hold a conference call at 0800 GMT.

$1 = 0.9092 euros


 

© Thomson Reuters 2022 All rights reserved.