Zara's parent company, Inditex published its third-quarter report

On Dec 11, Zara's parent company, Inditex published its third-quarter report. The company's revenue for the first three quarters grew by 7.1% year-on-year to 27.4 billion euro, while net profit increased by 8.5% to 4.4 billion euro, and gross margin improved by 4 basis points to 59.4%.

In the third quarter, sales amounted to 9.36 billion euro, falling short of market expectations of 9.51 billion euro. This performance, slightly below expectations, was primarily influenced by two external factors. A significant portion of Inditex's sales is denominated in euros, directly affected by the strengthening of the dollar and the weakening of the euro. Additionally, severe flooding in southern Spain has impacted the company's local business.