SWEDEN: H&M's July sales slow on same-store decline
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 .
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