Inditex shares peaked following record revenue growth in 2023

The rise in Inditex shares occurred after announcing record revenues of €35.9 billion in 2023 and expansion plans

Zara Store
Zara Store, illustrative photo / Mike Mozart, CC BY 2.0 DEED

On Wednesday, shares of Inditex, a major Spanish clothing manufacturer and owner of the well-known brand Zara, reached a record high following the announcement of an extraordinary increase in revenue for 2023, as reported by CNBC, citing data from the London Financial Exchange.

Over the past year, the company earned €35.9 billion, a 10.4% increase from the previous period, marking a historic achievement.

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This growth affected all regions and Inditex brands.

By the end of the year, 5,692 stores were under management. In 2024, Inditex intends to continue its expansion, including opening new Zara stores in Los Angeles and Las Vegas, and has planned investments of €900 million in developing the logistics network with new distribution centers in 2024 and 2025.

The company's net profit also reached a new high, increasing by 30.3% to €5.4 billion.

CEO Óscar García Maceiras highlighted the outstanding results of the company's operations in 2023 and focused on investment strategies to stimulate future growth and benefit shareholders.

It was also reported that Vodafone decided to divest its Italian segment, selling it to Swisscom for €8 billion, aimed at improving operational efficiency and increasing the company's stock value.

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