H&M releases disappointing sales results

Swedish fashion chain H&M has reported a sales rise of 3% in September 2011, compared to September 2010 and including taxes. The majority of that growth however was created by the opening of 252 stores: stores that have been open for over a year have suffered a 7% decrease in sales.

This is the worst like-for-like result for the Swedes this year, slightly worse than July's -6%. The last substantial like-for-like growth was registered in april, when sales went up 11%. H&M, currently running 2363 stores worldwide, has not released concrete turnover results or forecasts for the whole year.

Swedish fashion chain H&M has reported a sales rise of 3% in September 2011, compared to September 2010 and including taxes. The majority of that growth however was created by the opening of 252 stores: stores that have been open for over a year have suffered a 7% decrease in sales.

This is the worst like-for-like result for the Swedes this year, slightly worse than July's -6%. The last substantial like-for-like growth was registered in april, when sales went up 11%. H&M, currently running 2363 stores worldwide, has not released concrete turnover results or forecasts for the whole year.

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