SWEDEN: H&M Posts 4% Nov Sales Growth
The Stockholm-based company, Europe's largest fashion retailer, attributed the weaker-than-expected result to sluggish sales of winter clothing.
"Sales of the heavy winter collection, knitwear, coats and jackets have developed weakly, especially on the German and the Swedish market," the company said in a statement.
November same-store sales, meanwhile, slipped six to seven per cent, well below the company's long-term like-for-like sales growth goal of 10 to 15 per cent.
"We are not satisfied with the sales growth," investment relations spokesperson Clas-Henric Enhorning said.
Germany, H&M's biggest market, represents around 30 per cent of the retailer's total sales.
Companies: H&M Hennes & Mauritz AB
Help test our new apparel sourcing tool.
- What TTIP might mean for US, EU textiles & apparel
- Four steps to reduce product defects
- Unlocks for the future fashion sourcing landscape
- Geo-political uncertainty and how to survive it
- Adidas raises the bar for North America sales
- H&M, VF Corp and Levi among most ethical companies
- US Q4 in brief – J Crew, Perry Ellis
- Sears has "substantial doubt" of future
- PVH Corp to acquire e-commerce retailer True&Co
- Vietnam limits hazardous chemicals in apparel
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective