Inditex chains record after record. Zara's parent company has already achieved six quarters of exceeding profits and now reaches another milestone with all-time highs in the stock market. The group founded by Amancio Ortega closed this Tuesday's session with 36.88 euros per share, an increase of 1.51% that has led to its highest market capitalization, of 115,000 million euros. It thus consolidates itself as the most valuable company on the Ibex ahead of Iberdrola (about 69,000 million euros) just a few days before presenting the results of its third quarter. Analysts expect Inditex to once again shatter its revenue and profit record on December 13 despite an adverse economic and climatic situation. A warmer than normal autumn has slowed clothing sales in Spain and southern Europe, key markets for the group. Whether or not this situation has made a dent in the group's sales will be seen in three weeks.
The shares of the textile giant obtained their previous best record on the stock market in June 2017 and began an intense decline starting in November 2021, when the departure of Pablo Isla and the arrival of Marta Ortega – youngest daughter of the founder – as president was announced. non-executive. The price began to rise again starting in May of last year, already with Marta Ortega at the helm and with Óscar García Maceiras as CEO. The company's securities have accumulated a revaluation of more than 50% so far this year.
Barclays has raised Inditex's valuation to 32 euros per share from the previous 30 euros, while predicting that the company founded by Amancio Ortega will present “solid” results in the third quarter of its fiscal year. Specifically, the entity, which raises its earnings per share forecasts, foresees double-digit sales growth and an improvement in gross margin.
For its part, the Bloomberg consensus points to another record quarter. “Inditex continues to surpass and gain market share, widening the gap with its competitors thanks to differentiation in products and store experience,” Morgan Stanley highlighted.
In its first fiscal semester it registered a net profit of 2,513 million euros, 40.1% more than in the same period a year earlier. Sales grew by 13.5% and reached 16,851 million euros.
