Inditex shares plunge as some analysts say data suggests falling demand across Americas amid tariff uncertainty

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Unexpectedly poor results from sports brand Puma and the fashion group Inditex, which owns Zara, have fuelled fears about slowing consumer appetite in the US amid uncertainty over Donald Trump’s tariffs.

Shares in Puma dived by more than a fifth as the company put out a trading statement warning that sales growth this year would be slower than hoped as “geopolitical tensions and macroeconomic challenges will continue, especially trade disputes and currency volatility, which is expected to weigh on consumer sentiment and demand”.