SWEDEN: H&M sales fall in April, but recover in May
Year-on-year sales at Hennes & Mauritz (H&M) fell 1% in April, with the company blaming colder weather for the worse than expected results.
However, the Swedish retailer pointed to a far more positive trend in May, with the arrival of warmer weather in many markets.
The 1% fall - H&M's worst monthly sales trend in over three years at least - was accompanied by a 10% drop in like-for-like revenues.
"Considerably colder weather in most markets compared to April 2007 led to substantially weaker sales," said H&M.
"The negative sales trend ended with warmer weather in the beginning of May. Sales during the first two weeks of May have been very satisfying."
H&M had 1,560 stores at the end of April 2008, compared to 1,407 a year earlier.
The company will post May sales figures with its six-month report on 18 June.
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