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Currency effects, later launch squeeze margins at Zara owner Inditex

Reuters  |  LA CORUNA, Spain 

By Sonya DowsettLA CORUNA, Spain (Reuters) - Cash-rich Inditex, owner of fashion chain Zara, reported a squeeze on its margins in the three months to the end of January because of currency effects and a later launch of spring and summer collections.The retailer, whose brands include upmarket label Massimo Dutti and homewares chain Zara Home, reported annual net profit of 3.37 billion euros ($4.2 billion), in line with analysts' expectations.Inditex's gross margin was down around 140 basis points in its fourth quarter, steeper than an expected 120 basis point drop, said Richard Chamberlain of ...

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First Published: Wed, March 14 2018. 14:04 IST
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