Inditex experiences a slump following the release of its financial results, negatively impacting the Ibex index.
Inditex, the Spanish fashion retail giant, has closed the first nine months of the year on a positive note, despite a day marked by the colour red in the financial markets. The company's shares ended the session in positive territory, with a significant 12.6% increase.
Inditex's shares closed at 62.75 euros, representing a rise of 1.7%, making it the largest gain on the Spanish index, the Ibex. This impressive growth came after the company presented its results for the first nine months of the year, which showed a 10% increase in both net profit and sales.
The net profit for Inditex in the nine-month period stood at 1,302 million euros, while sales reached 9,709 million euros. These figures mark a substantial improvement compared to the same period last year.
The Ibex, which includes Inditex among its three values, closed with a 1.75% drop. However, Inditex managed to buck the trend, with Bankia and BME also ending the session in positive territory, albeit not as significantly as Inditex.
On the other hand, ArcelorMittal, Amadeus, and Gamesa were the three values that retreated the most.
The CEO responsible for the 10% increase in annual results and sales for Inditex is not stated in the search results. However, it is known that Pablo Isla, the former CEO of Inditex, will assume a Nestlé chairmanship in 2026.
This positive performance by Inditex comes as a relief to investors, who have been grappling with the impact of the ongoing pandemic on the retail sector. The company's strong results suggest that it is well-positioned to weather the storm and continue its growth trajectory in the coming months.
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