H&M winter lines offer cold comfort

Sales growth slows in November
December 16 2003
Swedish fashion retailer Hennes & Mauritz has seen a lukewarm customer response to its warm winter clothing ranges.

H&M has reported that November sales growth was lower than expected. Growth was four per cent year-on-year, compared to 10 per cent growth in October and 14 per cent a year ago, in November 2002. Like-for-like sales fell by six to seven per cent compared to a year ago.
H&M said: “Sales of the heavy winter collection, knitwear, coats and jackets have developed weakly, especially in the German and the Swedish market.” Germany and Sweden make up H&M’s biggest markets. Sales rose more than the average in other markets including the US, UK, Holland, France, Spain and Finland.

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