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Market Update

Inditex Sales Growth Accelerates; Supergroup, Whitbread Net Climb


Author: Nigel Thomas
ticker.com
Last Update: 11:06 AM ET December 11 2014

4:00 PM Frankfurt – Inditex profit rose 1% to €1.7 billion on 17% increase in revenues and estimated five weeks sales surged 14%. Sports Direct profit climbed 7% £115 million. Supergroup first-half profit surged 446% to £13 million. Whitbread third-quarter sales climbed 13%.

In London trading, FTSE 100 index slipped 32.26 or 0.5% to 6,467.78 and in Frankfurt the DAX index gained 0.6% or 57.43 to 9,857.16.

In Paris, CAC 40 index fell 0.06% or 2.74 to 4,225.17.

Inditex SA climbed 4.1% to €23.27 after the Spain-based world’s largest apparel retailer reported revenues in the nine-month ending in October jumped 7% to €12.71 billion from €11.93 billion a year ago period.

Profit in the period rose 1% from a year ago to €1.69 billion compared to €1.67 billion.

The retailer said total sales in local currencies surged 14% in the latest five-week period between November 1 and December 8.

Sports Direct International Plc slipped 1.6% to 664.50 pence after the U.K.-based sports and leisure clothing, footwear and equipment retailer group revenues in the first-half ending on October 26 jumped 6.5% to £1.43 billion from £1.34 billion a year ago period.

Profit in the period climbed 7.4% from a year ago to £115.3 million compared to £107.3 million and diluted earnings per share gained to 18.6 pence from 17.4 pence.

Supergroup Plc fell 0.5% to 825.50 pence after the U.K.-based clothing and accessory retailer stated group revenues in the first-half ending onOctober 25 climbed 8.4% to £208.2 million from £192.1 million a year ago period.

Profit in the period surged 445.8% from a year ago to £13.1 million compared to £2.4 million and diluted earnings per share increased to 17.1 pence from 2.6 pence.

Whitbread Plc rose 0.5% to 4,594 pence after the U.K.-based hotels and restaurants operator said total sales in the third-quarter ending on November 27 climbed 13.2% and comparable store sales in the quarter jumped 6%.

The hotelier said total sales at Premier Inn in the quarter soared 15.4% and comparable location sales advanced 8.5%.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc