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Inditex profit misses consensus by 16.7% in fiscal Q1

Industria de Diseño Textil SA said its normalized net income for the fiscal first quarter ended April 30 was 11 euro cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS decreased 6.8% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €330.5 million, a decline of 6.9% from €354.9 million in the prior-year period.

The normalized profit margin declined to 8.8% from 9.9% in the year-earlier period.

Total revenue increased year over year to €3.75 billion from €3.59 billion, and total operating expenses rose 6.1% year over year to €3.22 billion from €3.03 billion.

Reported net income decreased 7.3% from the prior-year period to €406.0 million, or 13 cents per share, from €438.0 million, or 14 cents per share.