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Inditex profit misses consensus by 18.1% in fiscal Q2

Industria de Diseño Textil SA said its normalized net income for the fiscal second quarter ended July 31 was 13 euro cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS rose year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €418.3 million, a gain from €402.1 million in the prior-year period.

The normalized profit margin dropped to 9.6% from 9.9% in the year-earlier period.

Total revenue increased 6.8% year over year to €4.34 billion from €4.06 billion, and total operating expenses grew 7.9% year over year to €3.67 billion from €3.40 billion.

Reported net income grew year over year to €522.1 million, or 17 cents per share, from €512.8 million, or 16 cents per share.