Inditex – Zara Owner’s Recovery Overshadowed By Inflation Jitters
In the third quarter, Inditex (BME:ITX)’s net income rose to historic highs as sales adjusted for currency changes increased 21% over 2020 levels and 10% compared to 2019. Q3 2021 hedge fund letters, conferences and more The group said the Autumn/Winter collection has been “very well received” with sales between 1 November and 10 December 10% above pre-pandemic levels. Management expects full year gross margins to be around 57.5%, beyond both 2020 and 2019 levels. The group paid a final dividend of €0.35 per share on 2 November. The shares fell 2.7% after the announcement. Inditex Reports Stro...