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Inditex's Zara posted stronger-than-expected November sales and profits, driven by Black Friday, with shares rising 7%.
Inditex, Zara’s parent company, reported stronger-than-expected sales growth for November, with currency-adjusted sales up 10.6%, driven by Black Friday and a robust holiday shopping start.
Third-quarter sales reached €9.8 billion, surpassing forecasts, while net profit rose to €4.62 billion for the first nine months.
The company maintained a 62.2% gross margin and reduced its global store count to 5,528.
Despite challenges from warm weather and low-cost online competitors, Inditex outperformed rivals, with shares rising 7% to a nine-month high.
It reaffirmed full-year guidance, expecting stable margins and a modest currency headwind.
Zara, de Inditex, registró ventas y ganancias de noviembre más fuertes de lo esperado, impulsadas por el Viernes Negro, con una subida de las acciones del 7%.