Reported about 22 hours ago
Inditex, the parent company of Zara, reported lower-than-expected quarterly sales and profit, leading to a 5% drop in its shares. Despite this, the firm noted a strong start to the holiday shopping season, with revenues rising 9% in currency-adjusted terms during a key sales period, although this growth was slower than last year's. Analysts attribute the quarterly miss to currency fluctuations and recent flooding in Spain, while Inditex continues to invest in expanding its operations to stay competitive against rivals like H&M.
Source: YAHOO