Sales of Zara's parent company, Inditex, grew by 7% in the first quarter of the fiscal year, in line with analysts' expectations.
This performance has slowed compared to the boost from the post-pandemic shopping boom last year.
Inditex, which also owns brands like Pull&Bear and Massimo Dutti, is accelerating its pace to catch up with and lead fashion trends in response to fierce competition from rivals like H&M.
The company has outperformed its competitors in recent quarters thanks to investments in new stores and online experiences. However, it also faces stiff competition from rapidly rising Chinese online retailers Shein and Temu.
The world's largest listed fashion retailer reported sales of €8.15 billion ($8.87 billion) for the three months ending in April, slightly above analysts' average forecast of €8.1 billion.
Net profit for the three months ending in April grew by 11% to €1.29 billion ($1.4 billion), in line with analysts' forecasts of €1.3 billion. In the first quarter of last year, the company reported a 54% profit growth.
Inditex stated that from May 1 to June 3, sales grew by 12% at constant exchange rates.
