SWEDEN: H&M Sept Same-Store Sales Up 8%
Swedish fashion giant Hennes & Mauritz on Tuesday posted an eight per cent climb in September same-store sales from the year-ago period despite unseasonal weather that has hit its rivals.
H&M, the world's largest fashion chain by market capitalisation, said sales were slow in the first half of the month due to warmer weather but picked up in the second half amid colder conditions.
The company's CFO, Leif Persson, said in an interview: "Scandinavia - Sweden and Norway - was slightly better than average. We attribute this to the fact that the cold weather came some what earlier to Sweden and Norway than to middle Europe."
H&M has opened a net total of 38 new outlets this year and now boasts more than 800 stores in 14 countries as well as a work force of more than 34,000.
Companies: H&M Hennes & Mauritz AB
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