Executive Summary

• Inditex reported 1Q17 revenues of €5.6 billion, an increase of 14.1% year over year and above analyst estimates. Constant currency sales increased 12.5% year over year in 1Q17, which ended April 30.
• EBIT increased by 18.3% year over year to €834 million, and 1Q17 EBIT margin expanded by 60 bps year over year to 15.0%.
• Inditex’s store and online sales at constant currencies for the trading period of February 1 to June 3, 2017 have increased by 12% year over year.