The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

H&M Group report increased sales but report suggest the clothing giant is struggling

Friday, 15 March 2013
H&M Group total sales in February 2013 increased by 5 percent including VAT in local currencies compared to the same month last year. But some observers feel that the H&M is beginning to struggle to compete on the high street.

Sales in comparable units decreased by 3 percent. Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year. Sales in February 2013 were negatively affected by calendar effects of just over 3 percentage points due to the leap day on 29 February 2012, the company writes in a press release.

But according to the Dowjones News, sales at Hennes & Mauritz AB declined for a fifth consecutive month in February, underscoring the difficulties the once-thriving clothing retailer is now facing in appealing to discerning customers in the intensely competitive fast-fashion market.
Read more from DowJones News on ADVFN

In the first quarter, i.e. 1 December 2012 to 28 February 2013, sales in H&M increased by 6 percent including VAT in local currencies compared to the corresponding quarter last year. But observers feel that the company is struggling in a very competitive market
by Scancomark.com Team

We welcome your contribution. Did you find anything wrong with this article? Do you want to contribute to our news network? Do have a news tip or assist us with a correction