Currency effects, later launch squeeze margins at Zara owner Inditex

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.....

This article is no longer available in our repository.

There could be multiple reasons for this.