Inditex Margin Reassures, Despite Sales Miss: Street Wrap
Inditex SA reported mixed results, as a gross margin beat provided relief for investors while first-quarter sales missed expectations. The margin beat was a positive surprise, and a trend of falling margins has been one factor weighing on the shares for the last year, according to Banco Sabadell analysts. The company said in a call with analysts it will not change its gross margin guidance for the year.