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Inditex (BME: ITX) 9M17 Results: Strong Sales, but Margin Erosion

Executive Summary

  • Inditex reported 9M17 revenues of €18.0 billion, an increase of 9.5% year over year. Comparable store sales remained strong.
  • The company’s EBIT increased by 6.1% year over year in the nine-month period, to €3.0 billion, while its EBIT margin contracted by 50 basis points year over year, to 16.7%.
  • For the trading period from November 1 through December 11, 2017, Inditex’s store and online sales increased by 13% year over year in constant-currency terms.

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