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Shares in Zara owner Inditex tumble as slowing growth startles investors
Inditex Chief Executive Officer Oscar Garcia Maceiras said constantly changing news on tariffs and geopolitics was making it difficult to make long-term predictions, the latest business leader to highlight the impact of uncertainty as U.S. President Donald Trump overhauls trade and foreign policy.
Inditex sales were up just 4% in currency-neutral terms over the February 1 to March 10 period, compared to 11% growth a year ago. Sales will have to accelerate significantly to meet analysts' forecast of 8.8% growth for the first quarter, Bernstein analyst William Woods said.
This was Inditex's weakest current trading update since 2016, setting aside the pandemic years, UBS analysts said.
Inditex gave no reason for the slower growth, but businesses have been warning of weaker demand, particularly in the United States, Inditex's second-biggest market by sales after Spain. The ongoing trade war with China, Mexico, and Canada has strained U.S. consumers.
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«We live in an uncertain environment, an environment in which it is, logically, our obligation to monitor every piece of news that is produced. And throughout the course of a single day, contradictory news stories sometimes appear, making it difficult to make very long-term predictions,» Garcia Maceiras said in a press conference at Inditex headquarters in Arteixo, northern Spain.
However, Maceiras said Inditex is well-positioned to adapt to tariffs, given its diversification in terms of sourcing and sales, and downplayed the recent slowing growth, saying
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