Newscasts - Zara owner Inditex beats forecasts with strong start to winter
03/12/2025 12:40
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_2tf2wsmr&referenceId=tag:reuters.com,2025:newsml_RW697103122025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: Zara owner Inditex beat analysts' expectations for the start of its fourth quarter on Wednesday (December 3), reporting currency-adjusted sales growth of 10.6% in November, a period that includes the crucial Black Friday weekend. Francis Maguire reports. Short Link: https://lseg.group/4pgLvYc Video Transcript: Inditex beat analyst forecasts for the start of its fourth quarter on Wednesday. The Zara owner reported currency-adjusted sales growth of more than a tenth in November. Inditex results are largely seen as a trend indicator in global fast fashion. It offers an early read for investors of how retailers got on during the key discounting season, including the important Black Friday weekend. The Spanish firm also reported strong third quarter results to the end of October. Sales were up nearly 8.5% to just over $11.4 billion, above analysts’ forecasts, while gross profit was up over 6% to $7.1 billion. The growth came despite unusually warm October weather in parts of Europe that weighed on sales of higher-priced autumn and winter items, including jackets and coats. Inditex didn’t provide a regional breakdown on Wednesday, but one leading analyst said Spain’s strong economy may have given a boost to the retailer as it makes around a fifth of revenue in its home country. Inditex shares jumped more than 8% to a nine-month high in early trade.