Inditex jumps to top of Stoxx on consensus-beating H1

ABOUT YOU Holding SE

14/09/2022 08:34

** Shares of Zara owner Inditex  ITX.MC  gain 4.5% on
better-than-expected H1 results, topping Spain's blue-chip index
IBEX35  .IBEX  and pan-European STOXX 600  .STOXX 
    ** Its H1 sales rise 24.5% to 14.84 bln euros ($14.81 bln)
and net profit jumps 41% to 1.79 bln euros compared to same
period last year  urn:newsml:reuters.com:*:nL8N30L0OH
    ** RBC, CM Capital Markets and Banco Sabadell point to
results above consensus, with J.P.Morgan highlighting a 9% EBIT
beat driven by top-line and opex ratio
    ** JPM says that thanks to Inditex's high-quality business
model, read-across related to About You's  YOUG.DE  profit
warning overnight is limited  urn:newsml:reuters.com:*:nTUCF2NVF
    ** RBC adds Inditex's long-term FCF improvement with strong
control over working capital and lower capital intensity should
reassure investors that it can maintain a dividend yield of
above 4.5% in a long term
    ** Shares of Swedish peer H&M  HMb.ST  edge up 1.1% in
morning trade

($1 = 1.0017 euros)

 (Reported by Marta Serafinko)
 ((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))