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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A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
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China has introduced its first renewable energy consumption targets for key industrial sectors and data centres.
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