The world's two top fashion retailers - Zara owner Inditex and Hennes & Mauritz (H&M) - reported strong sales growth on Wednesday, benefiting from a recovery in consumer spending in their core markets in Europe.

Inditex, whose brands also include upmarket Massimo Dutti and teen label Stradivarius, said sales rose 11 percent in local currencies between February 1 and June 8, accelerating from the 8 percent it recorded in the year to January 31.

While net profit fell 7.3 percent to 406 million euros ($553 million), the biggest decline in five years due to the strength of the euro, that still beat analysts' average forecast thanks to better-than-expected cost control.

Inditex is benefiting from the start of a recovery in its home market Spain where it still gets about one-fifth of its sales. Spanish retail sales rose 0.7 percent year-on-year in April, the first increase in three months.

Sweden's H&M said sales rose 19 percent in May, its fastest growth in six months and easily beating analyst forecasts. However, H&M said the figures were boosted about 3-4 percentage points by calendar effects, which would be reversed in June.

H&M said there was one extra Saturday shopping day this May than last year and fewer holidays when stores were closed in some countries, such as its top market Germany.

H&M and Inditex have outperformed the wider clothing market in recent years, helped by their focus on fast-changing fashions and low prices, with the Spanish firm having the edge thanks in part to its greater presence in developing economies.

"Inditex continues to deliver strong operational performance," said Bernstein analyst Jamie Merriman.