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Inditex (BME: ITX) 9M18 Results: Tight Control of Expenses, Limited Promotional Activity Boost Profits

Executive Summary

  • Inditex reported 9M18 revenue growth of 2.6% year over year, to €18.4 billion. At constant currency, sales grew by 7%.
  • Operating margin growth was flat in the period, while gross margin and SG&A margin each increased by 60 basis points.
  • Inditex maintained its previous guidance; the company expects gross margin expansion of about 50 basis points and same-store sales growth of 4%–6%.

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