Pursuits
H&M March Sales Slump as Winter Chill Delays Spring Season
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Hennes & Mauritz AB, Europe’s second-largest clothing retailer, reported a slump in March revenue as freezing weather delayed sales of spring clothes.
Total sales last month dropped 4 percent compared with the same period a year earlier, the Stockholm-based company said in a statement today, missing the average estimate in an SME Direkt survey for a decline of 2 percent. Revenue at stores and operations open at least a year fell 12 percent, compared with the 11.2 percent consensus estimate.