Inditex SA shares rose to the highest since the retailer’s 2001 initial public offering as analysts turn increasingly optimistic ahead of third-quarter results.
The Zara owner closed up 1.5% at €36.88 in Madrid trading on Tuesday, extending its year-to-date gain to about 50%.
The retailer’s fast-fashion business model and online presence have helped the shares best a retail sector that is this year’s top performer in Europe. The Stoxx Europe 600 Retail Index is up 26% in 2023 as customers have hit the shops following pandemic-era lockdowns.
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