On Wednesday, the owner of Zara ENGIX recorded sales growth in the fourth quarter that has fulfilled her expectations, even when the merchant pointed out to slow down demand at the beginning of the year.
The Spanish merchant reported on revenue of 11.21 billion euros [$12.2 billion] In a quarterly period, aligning EUR 11.2 billion forecasts by LSEG analysts and in relation to EUR 10.34 billion recorded in the same period last year.
The net revenue in the fourth quarter arrived at EUR 1.42 billion, also in accordance with the expectations of analysts.
The entire sales increased 10.5% in neutral currencies to a total of EUR 38.63 billion in 2024, just ahead of the expected EUR 38.57 billion, while the net revenue came to 5.88 billion euros of the year, in accordance with the forecasts. This is compared to a net sale of EUR 35.9 billion and a net revenue of 5.4 billion euros in 2023, which the company said record highlights.
The shares fell for 8.2% to 8:34 in London.
The company, which also owns Pull & Bear, Bershka and Massimo Dutti, has nevertheless pointed to a slight slowing of sales in the first quarter of this year. Revenues increased by 4% under neutral currency conditions from February 1 to March 10, compared to 11% growth a year earlier.
Following a a rare lady About sales and profit in the third quarter, which the company partly attributed to the stronger US dollar.
Results indicate a wider gap between the Inditex rivals H&Mwho fought in the midst of increased competition than cheaper merchants, such as Chinese fast fashion giant Shein.
H&M in January reported on sale in the fourth quarter missed expectations However, it still increased by 3% in local currencies to 62.19 billion of Sweden crown ($ 6.15 billion). Swedish merchant High Street said the Black Friday time had harmed sales, but that things were picked up in December and January.
This is the story of the news and will be updated soon.
