Zara owner Inditex reports slower start to first quarter
ARTEIXO, Spain (Reuters) -Zara owner Inditex on Wednesday reported a slower start to its first quarter starting February 1 after full-year sales and profit met analysts' expectations, raising questions around its ability to keep building on rapid recent growth. Inditex's strong sales as Zara took market share from rivals such as H&M have driven a strong run in its share price, now more than double where it was three years ago, but the stock has struggled recently as concerns grow around weakening consumer demand. Sales were up just 4% in currency-neutral terms over the February 1 to March 10 period, Inditex said, compared to 11% growth a year ago.