MADRID (dpa-AFX) – Inditex shares rose significantly in early trading on Wednesday after the presentation of business figures. Most recently, the value gained 4.5 percent to 42.91 euros. The share price rose to a record high. The value lies in a stable upward trend, which has more than doubled the price within around a year and a half.
Inditex wants to continue to grow profitably after a jump in profits in the last financial year. The company announced that the new spring and summer collection had been well received by customers. In the first weeks from February 1 to March 11, 2024, sales increased by 11 percent on a comparable basis and excluding exchange rate effects.
Deutsche Bank analysts praised the business development in the past year. Sales and earnings per share developed excellently despite the difficult environment.
According to James Grzinic from Jefferies, the figures underline the company’s excellent market position compared to the competition. However, there is a certain risk that all positive developments are now priced in, said Deutsche Bank./mf/mis
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