H&M reports slowdown in December sales growth
Swedish fashion retailer Hennes & Mauritz (H&M) reported on Monday a worse-than-expected slowdown in local currency sales growth in December.
Hennes & Mauritz Ab
kr179.70
16:25 26/04/24
-0.99%
-kr1.80
Sales rose 6% year-on-year last month following a 9% increase in November. It missed forecasts for a 8% gain and marked the slowest pace of growth since September.
H&M, the world’s second largest clothing retailer after Initex, has in the past year blamed unseasonable weather for several disappointing monthly sales.
The company publishes its full year earnings report on 31 January.
Shares in Stockholm fell 2.16% to €244.40 at 1141 GMT.