RBC Flags NEXT, Inditex as Retail Winners

RBC Capital Markets identifies NEXT plc and Inditex SA as top European retail picks amid weakening consumer demand.
NEXT is described as a structural compounder with scalable online/logistics platform, value‑priced assortment, strong distribution and single‑parcel economics.
Inditex is highlighted for fast‑fashion agility, rapid supply‑chain response, full‑price sell‑through, margin strength and robust balance sheet.
Both retailers are seen as high‑quality defensive growth stories with earnings resilience, share buybacks (NEXT) and global scale (Inditex).