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H&M group sales slow in warm August

H&M group sales including VAT increased by 1% in local currencies in August compared to the same period last year, marking a significant slowing of growth from the double digit figures achieved in every other month this year.

The company said its August sales were negatively affected by the unseasonably warm weather in many of its large markets in Europe.

Group sales including VAT increased by 11% in local currencies for the third quarter, ended August 31.

Sales including VAT converted into Swedish krona increased by 18% to SEK 53,420m (£4.2bn) due to its weakness against other currencies.

The group, which had 3,675 stores globally under fascias including H&M, & Other Stories, Cheap Monday, Cos and Monki, did not give a breakdown for UK sales.

@Tara_Hounslea

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