The beginning of the year has been very good for us. actions inditexdespite heavy penalties in the first half of last year. Breaking the record of results throughout 2022. This good start to the year (+5.2%) has, together with the past three months, surpassed the 2018 record. 26 Euros per titlesomething that hasn’t been seen in almost a year. This number was last reached on February 10. Two weeks later he was there Russian invasion of Ukraine The market value of the Galicia group continued to decline in the following months.
The firm’s shares bottomed out on May 10 when they closed at 19.71 euros. It is the lowest figure since July 2013 and the figure that it has not reached even at the worst moment of the pandemic. Its market cap was 61,429 million. A year ago, on May 23, 2021, it had completed 20 years on the Stock Exchange. 100,387 million. Two years later, its value was almost 30% less. There is uncertainty caused by the occupation in Ukraine, given the announcement of the change of direction in the company, the increase in raw material prices and, above all, the strong exposure the textile giant has in the countries. The conflict is especially in Russia, the second market after Spain.
expired, He lost his wand at the end of April. Mountain goat in your hand iberdrola, after more than a decade at the peak of the selector. But from then on, Inditex shares began to rise, supported by the good results it delivered each quarter. Between August and October, it earned 1,301 million, compared to 1,227 a year earlier, and again crossed the 8,000 million bills mark for the second consecutive quarter. Best quarter ever. And that faced a tough comparison: the previous quarter had been the second best quarter in its 40-year existence.
Neither the forced departure from Russia (announced on October 25, although it has closed more than 500 stores since March 5), neither the increase in raw material costs, nor inflation, nor the selective increase in prices of clothes, nor did the drop in consumption make a dent in the income statement.
The bullish rally in the last three months of 2022 has caused the value of their titles to increase by 27%: from 20.5 euros on 29 September to 26.1 yesterday, which represents a market cap of more than 81,500 million. If a person had invested 1,000 euros in Inditex shares at the end of September and sold it yesterday, he would have pocketed the 1,000 euros he had paid and would have earned 270.27% of the money he invested. Thanks to this increase, the revaluation was 32%, already in the figures before the start of the war in Ukraine, and from a minimum of 19.71 euros on May 10. And the group’s action has not yet reached its peak. Final advice on the titles of the group founded by Amancio Ortega Since the beginning of December, when Morgan Stanley set the price at 27 euros.
CCOO and UGT will meet with Galician company for improvements for the whole team
CCOO and UGT will start negotiations with Inditex on January 25. global wage measures state board offsetting the impact of inflation in all group companies and in all regions, as reported by the unions in a statement. The CCOO explains that over the past weeks and in coordination with the UGT, the firm headed by Marta Ortega has been asked to formalize the government chart that addresses the global aspects of salary policy across all group companies and all regions during this month of January. take into account both the status and levels of provincial collective agreements, the impact of inflation on the purchasing power of the workforce, as well as the commitment to review and improve the workplace staffing commissions system. UGT stated that, under the guidance of Inditex, they will discuss the common equality plan, where scope and application criteria should be discussed in all brands, at this national table. Additionally, this table will negotiate to reform the commission system for store staff, ensuring a “significant” impact on templates’ compensation.