Inditex Q3 results in line

SELL, Fair Value EUR92 (-11%)
News published on December Wednesday 12, 2012
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Inditex published Q3 12 results that were in line with our estimates, and 1% above consensus. There was a slight slow-down in LFL sales in the latter part of Q3 (c.+7% vs. +9% in the first part in spite of an easier comparison base) but LFL sales growth at the beginning of Q4 is in line with the beginning of the year. A conference call is scheduled at 9am CET.

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