The Swedish fashion group said it expects sales this month to fall by 10% year-on-year in local currencies
High street fashion firm H&M has warned over tumbling sales in September as unusually hot weather across many European markets dented demand for autumn ranges.While four percentage points of the sales decline is down to the group’s discontinued operations in Russia, it said the drop should be “seen in the light of unusually hot weather in several of the company’s European markets, which has had a substantial negative impact on sales during the month”.
Retail analyst James Grzinic at Jefferies said H&M’s performance in recent weeks shows current trading is “as pressured as feared”. Helena Helmersson, chief executive of H&M, said: “Sales in the third quarter started strongly with pent-up demand for summer garments following a cold May in most of our major markets.“There was a weaker end to the quarter, with comparative figures affected by the temporary reopening in Russia in August last year.
Belgique Dernières Nouvelles, Belgique Actualités
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