Inditex Beats Sales Estimates with Strong Summer Start
Zara owner Inditex reported an 11.5% rise in currency-adjusted sales for May, surpassing analyst expectations of 8%. The fashion retailer maintained its full-year outlook and reported improved gross margins despite rising costs and geopolitical uncertainty affecting global consumer confidence.
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INDITEX-UNSPON ADR reported currency-adjusted sales rose 11.5% in May, exceeding analyst expectations of 8% growth for the start of the second quarter. The performance follows a first quarter where sales reached €8.75 billion, an 8.8% increase in currency-adjusted terms. Strong margins suggest the retailer can maintain profitability even as global freight and raw material costs increase.
