DJ Inditex Sales Impetus Could Impress -- Market Talk
2021 Dow Jones & Company, Inc.
0637 GMT - Inditex's 1H results should go down well with investors, as the Spanish fashion group booked a return above pre-pandemic revenue in its 2Q. Net sales of EUR11.94 billion for the six months included a 2Q rise of 7% at constant currency compared with the same period of 2019, a trend that has continued into 3Q, Inditex said, with essentially all stores now open and online sales continuing their growth. The Zara owner looks to be cashing in on apparel needs amid a return to socializing and office work, Jefferies said ahead of the print, upgrading the stock to buy from hold and the target to EUR35 from EUR31. (email@example.com; @joshualeokirby)
(END) Dow Jones Newswires
September 15, 2021 02:38 ET (06:38 GMT)
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