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Inditex (BME: ITX) FY18 Results: Revenues Up, Missed Consensus, Integrating Online and Stores Globally

Executive Summary

  • Inditex reported FY18 revenues of €15 billion, lower than the consensus estimate of €26.41 billion and up 3.2% from the year-ago period. The company reported net income of €3.44, up 2.1% from the year ago period.
  • Comparable store sales increased 4.0% in FY18, positive across all regions and brands as well as online and in-store.
  • Management projects comparable sales growth of 4-6% in FY2019.

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