H&M posts 8% decline in same-store sales, 1% bump in total sales

10/16/2009 | Wall Street Journal, The

Hennes & Mauritz, the third-largest fashion retailer in the world, said same-store sales for September declined 8%, exceeding analysts' expectations of a 7% drop. Total sales rose 1%. The Stockholm-based H&M's same-store sales have fallen 13 of the past 14 months. "October sales should improve as temperatures have dropped and in November sales should be boosted by the Jimmy Choo collection, which comes into stores from Nov. 14," said Richard Chamberlain, analyst at Bank of America-Merrill Lynch.

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