Inditex Stock Up On Strong Q1 Results, Q2-to-date Sales Growth

RTTNews | Před 565 dny

(RTTNews) - Shares of Inditex SA were gaining around 5 percent in the morning trading in Spain after the Zara owner on Wednesday reported higher profit and sales in its first quarter, and proposed a dividend. The Spanish clothing firm also reported a growth of 12 percent in its store and online sales in constant currency between May 1 and June 3.

Looking ahead for fiscal 2024, Inditex expects a stable gross margin, plus or minus 50 basis points, and a negative 2 percent currency impact on sales at current exchange rates.

The company said it continues to see strong growth opportunities, and is developing several initiatives in all key areas for the coming years.

The growth of annual gross space in the period 2024-2026 is expected to be around 5 percent.

Further, in view of the strong future growth opportunities, Inditex said it is implementing a logistics expansion plan in 2024 and 2025.

Inditex also said its Board of Directors will propose to the Annual General Meeting on July 9 a dividend for FY2023 of 1.54 euros per share. The final dividend payment of 0.77 euro per share will be made on November 4.

Further, at the upcoming Annual General Meeting, the Board will propose the renewal of Baroness Denise Kingsmill and the appointment of Belen Romana García as independent board members.

The Board also will propose the appointment of Flora Pérez Marcote as proprietary director. Anne Lange will leave the Board once her tenure expires on July 14.

The Board will propose to the AGM to reduce the mandate of new board members to two years.

In its first quarter, net income increased 10.8 percent to 1.29 billion euros from last year's 1.17 billion euros. Earnings per share were 0.416 euro, up from 0.375 euro last year.

Profit before tax grew 11.1 percent from the prior year to 1.7 billion euros, while EBIT increased 10.3 percent to 1.6 billion euros and EBITDA grew 8 percent to 2.4 billion euros.

Sales went up 7.1 percent to 8.15 billion euros from prior year's 7.61 billion euros. Sales in constant currency grew 10.6 percent.

The Spring/Summer collections have been very well received, it said.

In Spain, Inditex shares were trading at 45.97 euros, up 4.64 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Značky : IDEXF.PK

Inditex Stock Up On Q1 Profit Growth; Sees Flat Margin In FY23

Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16..

RTTNews | Před 930 dny

Cautious Optimism Expected In European Markets

Stock markets in Europe are expected to trade on a cautiously optimistic note on Tuesday amidst rising geopolitical tensions, Fed rate cut hopes, thin holiday trade as well as mixed reactions to tech valuations.

RTTNews | Před 1 h 31 min

RBA Minutes: Policymakers Discussed Rate Hike Scenario

Policymakers of the Reserve Bank of Australia discussed scenarios in which policy tightening may need to be considered, the minutes of the meeting held on December 8 and 9 showed Tuesday. Members became less confident that monetary policy remains restrictive, the minutes showed. Policymakers assessed that inflationary pressures could be a little more persistent than had been previously estimated

RTTNews | Před 1 h 34 min

Australian Market Sharply Extends Early Gains In Mid-market

The Australian stock market is sharply expending the early gains in mid-market trading on Tuesday, adding to the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,750 level, with gains across most sectors led by financial and technology stocks.

RTTNews | Před 4 h 1 min

Indian Shares Look Headed For Another Positive Start

It's likely to be a firm start for Indian shares on Tuesday with investors set to track positive cues from Wall Street and Asian markets. A drop in oil prices is also likely to aid sentiment.

RTTNews | Před 4 h 10 min

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as the markets extend their gains boosted continued strength among technology stocks. Major currencies in the region also strengthened against the US dollar. Asian markets closed mostly higher on Monday.

RTTNews | Před 4 h 13 min

Canadian Dollar Rises Against U.S. Dollar

The Canadian dollar advanced against the U.S. dollar in the New York session on Monday.

RTTNews | Před 5 h 35 min

Hong Kong Stock Market Tipped To Open In The Green

The Hong Kong stock market has moved higher in four straight sessions, collecting more than 560 points or 2.2 percent in that span. The Hang Seng Index now sits just above the 25,800-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | Před 6 h 10 min

EURUSD	1.1773	GBPUSD	1.34858	AUDUSD	0.66657
USDJPY	156.108	USDCAD	1.37409	USDCHF	0.79031