Recession-hit budget shoppers

H&M sales up despite sagging economy

The Hennes & Mauritz clothing chain reports that its sales grew for a third straight month in July. Total sales, including at newly opened stores, were up by 11 percent, compared to the same month last year.

According to a press release from the world’s second largest fashion retailer, sales at rival stores rose by just 2 percent during that same period.

The results are slightly less than analysts’ expectations, but despite a continued drop in sales in Germany, they reflect a strong demand for budget clothes from austerity-hit shoppers.

At the end of July H&M had 2603 stores in 44 countries, around 300 more than a year ago.

Our journalism is based on credibility and impartiality. Swedish Radio is independent and not affiliated to any political, religious, financial, public or private interests.
Du hittar dina sparade avsnitt i menyn under "Min lista".