H&M’s like-for-like sales dropped 5% in October although total sales grew.
The Swedish fast fashion chain reported a 4% rise in total sales compared to last October. This is a slowdown in the growth H&M delivered in September when total sales increased by 15% as like-for-like sales grew 6%.
H&M now has 2,715 stores compared to 2,410 this time last year.
The retailer will today launch the much anticipated collaboration with French fashion house Maison Martin Margiela. The collection will go into 230 H&M stores worldwide as well as online.