SWEDEN: H&M books 15% September sales growth
Swedish fashion retailer H&M Hennes & Mauritz has today (15 October) booked a 15% increase in sales during September.
Comparable sales increased 6% over the month.
Bank of America Merryll Lynch analyst Richard Chamberlain said H&M performed better than its major markets with 5% growth in Germany and Sweden, while the US and France climbed 3% and 1% respectively.
"H&M appears to have regained sales momentum in fourth quarter which could have potential positive implications for margin."
"We think H&M's better sales momentum in September is likely to have continued into October which should put it on a solid footing versus its inventory plan, and lessens the likelihood of excessive promotion later," he added.
The retailer operated 2,669 stores at the end of September, up from 2,363 the year before.
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