Late spring holds back H&M growth

Fashion retailer sees slowdown in demand
A shortage of spring weather hit sales growth at Swedish fashion retailer Hennes & Mauritz in March.

Total year-on-year sales increased by 7 per cent across the month, compared to growth rates of 14 per cent in January and 13 per cent in February. Sales growth in March 2003 was 8 per cent.
H&M said: “The later arrival of spring, compared to last year, has had a restrained effect on sales in March.”
The company operates more than 950 stores, with openings schedued for Germany, the UK, Poland Spain and Norway during the current quarter.

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