Inditex 1Q Net EU406M; Est. EU391.2M

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June 11 (Bloomberg) –- Bloomberg’s Caroline Hyde reports earnings for Spanish clothing retailer Inditex, speaking to Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)


This is the spanish clothing store that owns a zahra.

-- owns zara.

It is not the 11% drop we were anticipating, but lower than last year.

Sales have missed analysts' estimates.

Sales up less than expected.

Four percent -- the local currency stores, sales up 11%. they are saying this is largely to do with current see.

They have been trying to push out in country such as brazil, china, russia.

Offsetting the sluggish sales in the home territory, that being spain.

But weaker foreign countries, especially russia, have been tracking on sales and profitability.

We can see that profit up to 406 million euros.

Again, slightly lower than it was last year.

We will be looking at what the outlook is.

The second quarter might not bode that well, either.

You have japan.

Wrecking on sales tax, that will reduce sales as people read gauge how much they want to be spending in the shops.

You have retail sales looking relatively sluggish in spain for the second quarter.

Interesting they are saying they are proposing five new shares.

For the share split.

We will get into those numbers for you further.

Thank you, caroline.

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