H&M saw July sales slow

H&M saw July sales slow

H&M Hennes & Mauritz AB saw July sales slow as the retailer posted the second consecutive month of same-store sales declines.

The clothing retailer announced today (15 August) that July sales increased 3% in local currencies, slowing on the 5% sales growth recorded in June. In April and May, sales increased 21% and 12% respectively.

In July, comparable-store sales fell 6%, while June same-store sales fell 4%. Comparable-store sales rose 2% in May and 11% in April. In July 2010 sales increased 21% or 10% on a comparable store basis.

The company said that it operated 2,306 stores at the end of the month, against 2,066 during the same period of the previous year .