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Max Stock Ltd. (MAXFF) is Israel's premier extreme value retailer with 64 locations across Israel and 2 in Portugal. The company offers a wide range of quality products at affordable prices, catering to customers' everyday needs. Led by CEO Ori Max, Max Stock aims to help customers 'Dream Big, Pay Small'. Known for its commitment to providing value, Max Stock continues to expand and innovate in the retail sector.
Max Stock reported strong Q3 2024 financial results with revenue increasing 18.6% to ILS 373.1 million and comparable store sales growing 9.2%. GAAP Net Income attributable to shareholders rose 35.3% to ILS 31.3 million. For the first nine months of 2024, revenue grew 18.4% to ILS 1.0 billion with comparable store sales up 9.0%. The company's growth was driven by new store openings and increased store traffic. Gross margin was 41.3% in Q3 and 41.7% for the nine-month period. Adjusted EBITDA increased 25.0% to ILS 56.5 million in Q3 and 28.7% to ILS 144.3 million for the nine-month period.
Max Stock (TASE: MAXO) reported strong financial results for Q2 and H1 2024. Q2 revenue increased 25.4% to ILS 316.9 million, with comparable store sales up 14.5%. H1 revenue grew 18.3% to ILS 630.1 million, with comparable store sales up 8.9%. The company's position as Israel's premier extreme value retailer resonated with consumers, driving significant growth.
Key Q2 highlights include:
- Gross margin improved 50 basis points to 41.7%
- GAAP net income (attributable to shareholders) increased 55.4% to ILS 25.8 million
- Adjusted EBITDA rose 48.9% to ILS 44.8 million
The company expanded its selling space by approximately 13% over the past 12 months, adding almost 8,000 net square meters. Max Stock's strong performance was attributed to increased store traffic, improved procurement terms, and significant operating leverage.
Max Stock reported the results of its general meeting held on June 26, 2024. Shareholders approved all agenda items, including the reappointment of Ernst & Young Israel as the company’s auditor until the next annual general meeting. Additionally, the following directors were reappointed for another term: Zehavit Cohen, Ori Max, Erez Nahum, Limor Brik-Shay, Guy Gissin, and Suzan Mazzawi. This English overview is an excerpt from a Hebrew report and is not an official translation. Max Stock operates 64 locations in Israel and 2 in Portugal, offering a wide range of affordable products for everyday needs.
Max Stock (TASE: MAXO) announces participation in two prominent consumer conferences. On June 10, 2024, Chief Corporate Development and IR Officer Talia Sessler will present virtually at the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference at 9:00 a.m. ET. The presentation will be streamed online and accessible on the company's website.
On June 17, 2024, Max Stock's founder and CEO Ori Max, Deputy CEO and Head of Finance Nir Dagan, and Talia Sessler will attend the Jefferies Global Consumer Conference. They will host one-on-one and small group investor meetings throughout the day. Max Stock is a leading extreme value retailer in Israel, with 64 locations in Israel and 2 in Portugal.
Max Stock has announced an Annual General Meeting (AGM) scheduled for June 26, 2024, at 10:00 AM in Tel Aviv. The meeting will cover discussions on the company’s 2022 and 2023 board reports and financial statements, which are informational and not subject to voting. Key agenda items include the reappointment of Ernst & Young Israel as auditors and authorization for the board to set their fees. Additionally, the reappointment of non-external directors for another term will be voted on, with each director's reappointment being considered individually. Max Stock, a leading retailer in Israel, operates 64 locations in Israel and 2 in Portugal.
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