Income Inditex (ITX.MC) Q4 2024

The Zara Inditex owner on Wednesday published an increase in the fourth quarter in the fourth quarter, which meant the expectations, even when the seller pointed to slowdown at the beginning of the year.

The Spanish retailer announced the income of 11.21 billion euros (12.2 billion dollars) over the three -month period, which corresponds to the LSEG 11.2 billion forecast and compared to 10.34 billion euros recorded in the same period last year.

Net income in the fourth quarter amounted to EUR 1.42 billion, also in accordance with the expectations of analysts.

Sales for the full year increased by 10.5% in neutral currency to a total of 38.63 billion euros in 2024, only ahead of the expected 38.57 euro, and net income amounted to 5.88 billion euros per year, according to forecasts. This is compared to pure sales of EUR 35.9 billion and pure income of EUR 5.4 billion in 2023, which, according to the company, were Write down the highs.

The shares decreased by 8.2% to 8:34 am in London.

The company, which also owns Pull & Bear, Bershka and Massimo Dutti, however, indicated a slight slowdown in the first quarter this year. The income increased by 4% in neutral currency conditions from February 1 to March 10, against 11% growth a year before.

Follow A rare Miss About the sale and profit in the third quarter, which the company partially explained the stronger US dollars.

The results indicate an extension of the gap between Inditex and competitor H & MFighting against the backdrop of increasing competition from retailers such as the Chinese fast fashion giant Shane.

H&M in January reported sales in the fourth quarter which lacked expectations But nevertheless increased by 3% in local currencies to 62.19 billion Swedish crane ($ 6.15 billion). The High Street Swedish retailer said Black Friday had caused damage to the sale, but everything arose in December and January.

This news story and will soon be updated.