Editor
Zara owner Inditex said its Spring/Summer 2023 collection flew off shelves over the last six weeks but shares in the world’s biggest fashion retailer fell after it flagged higher spending on technology and automation.
Inditex has extended its lead over Swedish rival H&M, in part because of a less price-sensitive customer base. As the cost of making garments increased, H&M took a profit hit while Inditex was able to pass on costs to shoppers.
