On Europe’s lower multiples

It's only fitting that I write something today on Europe's multiples since I wrote yesterday on P/E multiples in the US. What prompted this were two different articles, one on Europe's lower multiples in general and the second on a Spanish retailer.

Let's look at the Spanish retailer first. The BBC writes:

Zara-owner Inditex, the biggest fashion clothing retailer in the world, has reported yet another increase in profits, helped by sales in Eastern Europe and its new online store in China....

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