In a strategic move, Óscar García Maceiras, CEO of Inditex, has acquired 2,667 shares of the company founded by Amancio Ortega, totaling 103,479.6 euros. This comes amidst a historic surge in the stock market.
According to National Securities Market Commission (CNMV) records, García Maceiras made this acquisition the day after Inditex’s financial results presentation at a share price of 38.8 euros.
This recent purchase supplements a prior transaction in April when García Maceiras acquired 26,361 shares at 30.39 euros each, amounting to 801,110 euros.
Despite a 0.52% decrease in Friday’s trading, settling at 38.4 euros per share, Inditex maintains a robust market capitalization of 119.7 billion euros. On the day of its results presentation, shares peaked at 39 euros, reflecting a market capitalization of 121 billion euros.
Inditex ranks as the second best-performing stock in the Ibex this year, boasting a 54.57% appreciation, surpassed only by Laboratorios Rovi (+57.38%).
In the first nine months of the 2023-2024 fiscal year, Inditex reported a substantial 32.5% increase in net profit to 4.102 billion euros. Sales reached 25.609 billion euros, an 11.1% rise, with a strong performance in both physical and online stores across all geographical areas and retail formats.
Despite a third-quarter sales growth slowdown to 6.7%, influenced by factors like early autumn temperatures, the gross margin increased by 12.3% to 15.203 billion euros, accounting for 59.4% of sales.
At present exchange rates, Inditex anticipates a -4% currency impact on sales in 2023, with a gross margin expected to be 75 basis points higher than in 2022.
The net cash position has surged by 15% compared to a year earlier, reaching an impressive 11.480 billion euros.
