The company said Wednesday that profit for February to April was 406 million euros ($550 million) compared with 438 million euros for the same period last year. It was the company's first fall for the quarter since 2009. The fall came despite a 4 percent rise in sales to 3.75 billion euros.
Inditex said it opened 53 new stores during the period, taking its total around the world to 6,393.
The company's share price rose 1.5 percent t0 111.95 euros in morning trading in Madrid.