Wednesday, June 15, 2016

Owner of the Zara clothing net profit higher than expected by climate

Inditex, the world''s largest clothing, unveiled on Wednesday high of 6% in profit, higher than expected, driven by a rapid adaptation to a climate out of season in the first quarter.
The performance of the company whose main network is Zara just overcoming the rival networks as the Swedish H&M, which released early predictions below the expected for may.
Zara''s sales helped boost group performance with a growth of 15% at constant exchange rates in the first few weeks of the second quarter, between May 1 and June 13.
"In a market environment in which most of the retailers are complaining about the climate, the results showed the strength of Inditex''s business model and ability to deliver superior results," said analyst Jamie Merriman, of Bernstein.
Inditex announced net profit of 554 million euros between February and late April, surpassing market expectations compiled by Reuters of 541 million euros. Sales rose 12 percent in the period.
Reuters
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