Inditex pins hope on strong dollar as sales disappoint

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Financial Times 1d ago

Inditex pins hope on strong dollar as sales disappoint - Financial Times

Quick Summary:

The US dollar had been falling since mid-2024, against a basket of its peers, as the Federal Reserve cut interest rates, but it rallied strongly on Trump’s victory as investors moved to price in the impact of the tariffs he has vowed to impose on imports.

Some analysts said Inditex was still losing business momentum beyond the currency shifts, but the world’s biggest fashion retailer by market value said the dollar’s renewed strength this quarter would give it a boost.

Inditex benefits from a weak euro versus the dollar and other currencies because it sells a significant proportion of its clothes outside the Eurozone then converts the revenue into euros in its financial statements.