Zara owner Inditex flags slowing summer sales as quarterly revenues miss expectations

Core Viewpoint - Inditex, the owner of Zara, reported weaker-than-expected quarterly sales and indicated a slower start to the summer season amid economic uncertainty [1][2]. Financial Performance - Inditex reported revenues of 8.27 billion euros ($9.44 billion) for the fiscal first quarter from February 1 to April 30, falling short of the 8.39 billion euros forecast by analysts [2]. - The net income for the quarter was 1.3 billion euros, slightly below the 1.32 billion euros estimated by analysts [2]. Sales Trends - The company experienced a slower start to summer sales, with a 6% increase at constant currencies from May 1 to June 9, compared to a 12% growth in the same period last year [2]. - In March, Inditex had already indicated a slowdown in demand at the beginning of the year, which was attributed to uncertainty surrounding U.S. tariffs [3].