The market punishes the deceleration of Inditex with a fall of almost 5%

The market punishes the deceleration of Inditex with a fall of almost 5%

Although it gains 4% more than last year, the turnover rate of the multinational is the lowest since 2001

  Inditex continues to win, and a lot. The Amancio Ortega multinational registered a net profit during the first nine months of its fiscal year of 2,438 million euros, 4.1% more than in the same period a year ago, as reported by the company on Wednesday. However, its sales rose by just 2.6% to 18,437 million euros due to the impact of currencies, which was punished by the market with a drop close to 5% in its price.

  Thus, although in absolute terms the profit and the turnover posted records once again, in year-on-year comparison the net result suffered a deep deceleration with figures that were not so low since 2014. The turnover registered the lowest increase since 2001 , year in which Inditex began trading on the stock exchange and publishing its accounts.

All this caused that at the end of the session, their shares led the only fall recorded on Wednesday in the Ibex 35, to 25.05 euros, this is a decrease of 7.4% of the value against 26.33 euros a those who closed the titles of the Galician company last Tuesday. So far this week, their shares are down 6.53%, a percentage that rises to 11.14% if data is taken since the beginning of the year.

The company indicated that the impact of the currencies subtracted 4.3 points to the growth of the business, although sales increased in all the geographical areas in which it operates. The gross operating profit (ebitda) rose almost 3% to 3,932 million, while sales at constant exchange rates rose by 7%.

Opening of stores in 51 markets
The Galician group highlighted in its press release that the policy of permanent updating of the integrated model continues at a good pace, including the opening of stores in 51 markets during the first nine months of the year and the incorporation of the latest technology aimed at eco-efficiency and, especially , to customer service, both in new stores and in additions and renovations.

At the close of the first nine months of its fiscal year, Inditex operated 7,442 stores in 96 markets . The eight chains of the Galician group will have global presence 'online' in 2020.