Spanish fashion giant Inditex (ITX.MC), owner of Zara, reported first-quarter revenues of €8.27 billion ($9.44 billion) on Wednesday, falling short of analyst expectations amid rising economic uncertainty.
The result missed the €8.36 billion average estimate in a LSEG poll, adding to concerns about the company’s ability to maintain strong sales growth in a challenging global retail landscape.
The underperformance comes as fast-fashion retailers face slowing consumer demand, intensified price competition, and broader macroeconomic headwinds.
Fears of resurgent inflation and an economic slowdown triggered by tariffs have already dampened consumers' enthusiasm for shopping in the United States and elsewhere.
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.
Rainy weather in Spain, which accounts for 15% of Inditex's global sales, has also likely hurt its performance, according to Bernstein analysts.
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Australia has confirmed its first mainland case of H5N1 bird flu, ending its status as the only continent with a mainland free of the virus and prompting authorities to step up efforts to contain any spread.
One person was killed and dozens injured after two passenger trains collided near Bedford in central England on Friday, prompting a major emergency response, British Transport Police said.
One person was killed and dozens injured after two passenger trains collided near Bedford in central England on Friday, prompting a major emergency response, British Transport Police said.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
U.S. President Donald Trump sought a deal with Iran "out of deperation," Iranian Supreme Leader Mojtaba Khamenei has said, in a statement on social media. Khamenei added that he himself "held a different view," to Trump, but allowed the agreement after receiving assurances from Iran's President.
Russia's defence ministry says its forces have captured the village of Yurkivka in Ukraine's eastern Donetsk region, according to the Interfax news agency. The claim could not be independently verified.
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China has opened its market to cashew nuts from all African countries with diplomatic relations with Beijing, removing a long-standing barrier that had restricted exports from much of the world's largest cashew-producing continent.
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