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H&M sales grow but miss forecasts

High street Swedish retailer, Hennes & Mauritz (H&M) experienced sale increases of 4...
Newstalk
Newstalk

08.39 15 Dec 2015


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H&M sales grow but miss fo...

H&M sales grow but miss forecasts

Newstalk
Newstalk

08.39 15 Dec 2015


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High street Swedish retailer, Hennes & Mauritz (H&M) experienced sale increases of 4% in local currencies compared to the corresponding month last year.

This was well off of the 9% rise that analysts polled by Reuters had expected.

In a statement H&M said that unseasonably mild weather in North America and many regions across Europe led to less people updating their wardrobes during the month.

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Net sales during the company's fiscal fourth quarter between September and November totalled 48.7bn Swedish crowns (€5.2bn) - up from 42.6bn last year - but again short of the forecast 49.6bn.

This was a 14% yearly increase - down from a 18% year-on-year bump during the company's third quarter. 

Queues formed outside of H&M stores around the world as its limited-edition Balmain x H&M collection launched during the month.

In Singapore shoppers queued for three days to get their hands on garments from the line.


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