Zara owner Inditex slumps as high expectations for earnings bite
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Zara owner Inditex's stock fell nearly 6% after reporting a 9.9% increase in pre-tax profit and a 7.1% rise in sales for the first nine months of the year, which did not meet high market expectations.
December 11, 2024 | 11:45 am
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Inditex, trading as IDEXY in the US, reported a 9.9% increase in pre-tax profit and a 7.1% rise in sales, but the stock fell nearly 6% due to unmet high expectations.
The stock price of IDEXY fell nearly 6% as the market had high expectations for Inditex's earnings. Despite reporting growth in profit and sales, the results were not sufficient to satisfy investors, leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100