Zara owner Inditex missed expectations for its first-quarter sales on Wednesday, adding to doubts about the ability of the fast-fashion retailer to keep delivering strong sales growth in an uncertain economic environment.
Inditex also reported a slower start to its summer sales, with revenue growth of 6% from May 1 to June 9, compared to a 12% growth in the same period a year ago, Reuters said.
The company reported revenues of 8.27 billion euros ($9.44 billion) for its first quarter ending April 30, missing analysts' average estimate of 8.36 billion euros, according to an LSEG poll.
Fears of resurgent inflation and an economic slowdown triggered by tariffs have already dampened consumers' enthusiasm for shopping in the United States and elsewhere.
Cooler weather in Spain, which accounts for 15% of Inditex's global sales, has also probably hurt the retailer's performance, according to Bernstein analysts.
