Inditex stock enters results run-up as Jefferies sees durable growth

Published on 11/05/2026 at 17:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Inditex stock remains a preferred fashion-sector pick for Jefferies ahead of the next results. The broker sees several supports for growth.

Jefferies backs Inditex growth outlook

Jefferies keeps Inditex among its preferred fashion-sector choices ahead of the December 2 results.
The broker sees support from Zara's John Galliano collaboration, cooler European weather and French ultra-fast-fashion rules.
Currency effects have shifted from strongly dilutive to slightly positive, while lower China exposure supports the investment case.

Inditex, ES0148396007, Illustration mit AI erstellt.

Jefferies continues to rate Inditex among its preferred fashion-sector choices ahead of the Spanish group's nine-month results on Wednesday, December 2, 2026. Bolsamania reported on Wednesday, November 4, that the broker reiterated its buy rating and 67-euro price target.

Growth supports before December results

Jefferies expects a solid third-quarter update despite investor concerns about operating-cost growth. Its forecast calls for currency-neutral sales growth of 9.5%, ahead of the 8.4% consensus view. EBIT is projected at 2.62 billion euros, 10% above the prior-year level and above the 2.57 billion euro consensus estimate, while operating expenses are expected to rise 9%.

The broker identifies four potential supports. The first John Galliano collaboration launched at Zara on October 1 and could become visible in the upcoming results. Cooler European temperatures in late October and November may also support autumn and winter demand. Jefferies further sees foreign-exchange pressure shifting from strongly dilutive to slightly positive.

French legislation targeting ultra-fast-fashion businesses has been in force since September 1. Jefferies expects the change to improve the relative position of established retailers such as Inditex. The broker also highlights the group's affordable positioning and estimates that China represents about 5% of Inditex sales, compared with close to 30% for the wider European luxury sector.

Inditex stock traded at 60.20 euros on Lang & Schwarz at 17:07 CET on Thursday, November 5, 2026. The next scheduled results will give investors a fresh read on sales momentum, margins and operating costs.

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