Am I the only one watching Fashion Star? Well the H&M shoppers are definitely not watching or shopping.
Hennes & Mauritz AB said sales in comparable units fell by 10
percent in April due to bad weather and “a very negative” calendar
effect (when all else fails; blame it on the weather)
Group sales including VAT in local currencies were down by 1 percent compared to April 2011. In the same month last year, H&M had reported sales in comparable units were up 11 percent, and sales in local currencies jumped 21 percent
Group sales including VAT in local currencies were down by 1 percent compared to April 2011. In the same month last year, H&M had reported sales in comparable units were up 11 percent, and sales in local currencies jumped 21 percent
.
The Swedish fast-fashion giant had warned last month that the calendar effects which boosted sales in March would be reversed in April. Nils Vinge, head of investor relations at H&M, said at the time that April would count a Sunday and Monday, traditionally the weakest trading days, in place of a Friday and Saturday.
The store count stood at 2,549 on April 30 versus 2,264 stores on April 30, 2011
The Swedish fast-fashion giant had warned last month that the calendar effects which boosted sales in March would be reversed in April. Nils Vinge, head of investor relations at H&M, said at the time that April would count a Sunday and Monday, traditionally the weakest trading days, in place of a Friday and Saturday.
The store count stood at 2,549 on April 30 versus 2,264 stores on April 30, 2011
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