US EditionZara owner Inditex's early summer sales disappoint as tariffs fuel uncertainty
- Inditex reported 1.5% year-on-year sales growth in the first quarter ending April 30, with revenues of €8.27 billion and 5,562 stores operating at period end.
- Growth decelerated due to unfavorable currency movements and poor springtime rainfall conditions in Spain, a market representing 15% of Inditex’s worldwide revenue, leading to fluctuations in demand.
- EBITDA rose 1% to €2.4 billion, profit before tax remained flat at €1.7 billion with a 20.2% margin, and net income increased 0.8% to €1.3 billion.
- Inditex missed analyst revenue estimates of €8.36 billion and its shares dropped 4% in early trading, amid uncertainty about sustained sales growth.
- Weaker sales have raised concerns about Inditex's growth prospects as the company prepares for a leadership transition at the annual meeting on July 15, where José Arnau will leave the board and be succeeded by Roberto Cibeira.
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Maker of Tommy Bahama says consumer caution is affecting ‘fundamentally everything we sell’
Oxford Industries Inc. — the company that owns the Tommy Bahama and Lilly Pulitzer beach- and resort-wear lines — slashed its full-year profit outlook on Wednesday, sending shares lower in after-hours trade, as U.S. tariffs “significantly” complicate business. Article Attribution | Read More at Article Source The post Maker of Tommy Bahama says consumer caution is affecting ‘fundamentally everything we sell’ appeared first on RocketNews.
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