Zara owner Inditex SA has reported a slowdown in sales growth during the early part of the second quarter, signaling challenges amid a cooling global economy. The company also cautioned that foreign-exchange fluctuations could weigh more heavily on its financial performance this year than previously expected. Following the announcement, the company’s shares experienced a significant drop. Revenue for the five weeks leading up to June 9 increased by 6%, excluding currency effects, which marks a weaker performance compared to the same period last year. The retailer, headquartered in Arteixo, Spain, highlighted the impact of economic uncertainties on consumer spending.
— new from Bloomberg
