Zara owner Inditex (ITX.MC), opens new tab missed expectations for first-quarter sales and early summer trading , as tariff fallout complicated the fast-fashion retailer’s efforts to maintain strong growth.
Inditex reported a slower start to its summer sales, with currency-adjusted revenue growth of 6% from May 1 to June 9, compared to analysts’ expectations of 7.3%, and down from 12% growth in the same period a year ago.

Revenues for the first quarter ending April 30 were 8.27 billion euros ($9.44 billion), falling short of analysts’ average estimate of 8.36 billion euros, according to an LSEG poll.
Net income increased 0.8% in the quarter, to 1.3 billion euros. The company expects its growth margin to remain stable in 2025, Garcia-Tapia said.

Inditex’s competitors have also experienced a sluggish spring. H&M’s (HMb.ST), opens new tab sales have struggled, growing by just 1% in March compared to 4% in the same period a year earlier. Its December-February revenue grew by 2%, below analyst forecasts. H&M will report second-quarter results on June 26.

With volatility in foreign exchange markets driven by trade risks, Inditex said currency fluctuations will have a bigger impact than previously expected, predicting a 3% negative effect on its 2025 sales, compared with the 1% it flagged in March.