Welcome to our dedicated page for Max Stock news (Ticker: MAXFF), a resource for investors and traders seeking the latest updates and insights on Max Stock stock.
Max Stock Ltd. operates an extreme value retail chain in Israel, offering a broad assortment of everyday products and value-oriented merchandise through its retail network and related sales channels. Company updates commonly cover revenue, comparable-store sales, new branch openings, gross margin, adjusted EBITDA, net income, supply-chain efficiency, direct imports, and use of its logistics center.
Recurring immediate reports also address Israeli disclosure matters, including interested-party and senior-officer holdings, controlling shareholder share sales, shareholder agreement disclosures, share options, and related-party employment approvals within the company and its subsidiaries.
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On January 6, 2023, Max Stock announced the latest holdings of its interested parties and senior officers as of December 31, 2022. Major shareholder Moose Holdco Ltd. holds 39,350,594 shares, equating to 28.32% of the equity and voting rights. Other significant holders include Evan Charles Neumann and Ori Max, holding 81,784 and 24,981,492 shares respectively. The total percentage of holdings for interested parties is 69.91%, with a fully diluted basis standing at 68.89%. Some senior officers, however, reported declines in their share options, reflecting changes in their holdings.
Max Stock Limited reported strong financial results for Q3 2022, with revenue increasing by 14.8% to ILS 293.5 million compared to Q3 2021. Gross profit rose 19.4% to ILS 117.7 million, and gross margin improved by 150 basis points to 40.1%. Adjusted EBITDA increased by 15.4% to ILS 41.9 million, and adjusted net income grew by 10.3% to ILS 27.4 million. However, comparable store sales decreased by 1.1% for the first nine months of 2022.
Max Stock Limited (TASE: MAXO) announced on September 18, 2022, that an investigation concerning customs and import-related matters has been closed. The company successfully requested for criminal proceedings to be replaced with administrative ones, requiring only a negligible payment. This development follows the company's report dated April 26, 2021, and aligns with Note 4(a)(5) of its financial statements as of June 30, 2022. Max Stock is Israel's leading extreme value retailer, operating 55 locations across the country.