Zara-Owner Inditex Q1 Profit Beats Forecasts as Sale Boon Continues
Zara-owner Inditex said on Wednesday sales of its spring-summer collection jumped by 16% over the past month, in a sign the fast fashion retailer can continue its strong run despite higher wage costs and the loss of its Russian business. The results came as the world's biggest fast fashion company reported a better-than-expected 54% rise in first-quarter profit, as sales kept pace after a strong 2022, when it outperformed other retailers during the cost of living crisis.