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H&M like-for-likes fall further

Like-for-like sales at Swedish fast fashion retailer H&M dipped 4% in January - an acceleration of the decline seen in December.

Total sales at the chain increased by 5% compared to January 2012 with the total number of stores it had at the end of January growing to 2,808 from 2,488 the previous year.

The drop in like-for-like sales was double the decline seen in December when like-for-like sales dipped by 2%.

The retailer yesterday announced it was to unveil its re-vamped Oxford Circus store on March 14.

The store is set to nearly double in size from a 2,000 sq m store set over three floors to a 3,750 sq m store set over six floors.

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