Belfast Telegraph

Fashion giant H&M suffers slower sales

By Holly Williams

Fashion chain H&M has reported slowing sales growth after it faced a tough start to May across a number of its international markets.

The retail giant, which has around eight stores in Northern Ireland, said sales rose by 4% last month on a constant currency basis.

That was down from growth of 7% in April.

This left overall second-quarter sales growth to the end of May at 5%.

But H&M was boosted as currency movements flattered its earnings, with total second quarter sales excluding VAT up 10% at 51.4bn Swedish crowns (£4.6bn).

H&M, which has nearly 4,500 stores worldwide, said: "In the first half of the month sales were affected by tough market conditions in several countries.

"(However) sales improved considerably in the second half of the month."

Belfast Telegraph


From Belfast Telegraph