Picture of H and M Hennes and Mauritz AB logo

HM B H and M Hennes and Mauritz AB News Story

0.000.00%
se flag iconLast trade - 00:00
Consumer CyclicalsAdventurousLarge CapNeutral

Inditex rises after sales pick up in run-up to autumn

** Shares in Zara owner Inditex ITX.MC jump around 6% to their highest since mid-June after its sales picked up pace in the run-up to autumn

** Sales for the start of Inditex's autumn quarter, from August 1 to September 8, were up 9% year-on-year in currency-adjusted terms, up from the 5.1% growth over the first half

** "Recent trading is of course very encouraging, and reassures that Inditex can continue to outperform and leverage an improvement in the market backdrop," J.P.Morgan says

** Jefferies also points to a very healthy start to the Q3 and Inditex's ability to cope with strong FX dilution and still deliver flat operating margins

** If gains hold the stock will see its best day since March 2024; it is at the top of Europe-wide STOXX 600 .STOXX index

** Shares of peer H&M HMb.ST are up 1.4%

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))

Recent news on H and M Hennes and Mauritz AB

See all news