Zara owner Inditex said its first-quarter performance was in line with expectations despite reporting a slow-down in sales growth.

Gross profit for the fashion giant jumped 7% to £4.2bn (€4.9bn) in the three months to 30 April, up from €4.6bn.

Sales rose 7% to €8.2bn, or 10% on a constant currency basis, which represented a slowdown from last year’s performance when it benefited from a post-pandemic shopping spree.

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Store and online sales jumped 12% during the three months, driven by a positive performance of its spring and summer collections which “continue to be very well received”.

The fashion giant said it continues to see strong growth opportunities “to take our business model to the next level” and is developing several initiatives in all key areas for the coming years.

Earlier this week, it announced that it was extending Zara’s live shopping experiment to the UK, US and Europe in October following a successful trial in China.

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