The pioneer of fast fashion isn't looking so fast anymore. Inditex , the world's largest clothing retailer and owner of the Zara chain, faces growing competition from younger, online-only players like Boohoo.
Trading statements and results announcement are being closely watched at present as some global markets prove to be tough for fashion chains. So H&M was in the spotlight on Friday as it reported Q2 sales up 2%.
U.S. retail sales increased more than expected in May as consumers bought a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter.