I t was a shock for investors in the world’s biggest fast-fashion owner last month, when the €156 billion Inditex reported a rare sales expectations miss. The retail powerhouse, which is behind clothing brands such as Zara and Pull & Bear, reported sales of €9.36 billion for the three months to October 31, behind analyst forecasts of €9.
51 billion. It was enough to send its Madrid-listed shares down 6 per cent, wiping more than €9 billion off its market value. Inditex shares have now regained most of that fall, but the miss has made some investors uneasy about how long the group can keep up its impressive growth, especially as its Chinese rivals gain ground in Europe.
Industria de Diseño Textil, or Inditex for short, is one of the biggest companies in Spain, where it is listed. Its origins go back to the 1960s, when Amancio Ortega, 88, opened a factory in the Galician city of A Coruña. The group now has more than 7,000 stores across the world.
Its key brand is Zara , but it also owns Bershka, Massimo Dutti, Pull & Bear and Stradivarius. The brands, typically found on the high street and in shopping centres, are known for being stylish and affordable..
