Cold weather lifts H&M sales as retailer beats expectations

 

H&M, the Swedish fashion group and world’s second-biggest clothing retailer, beat expectations as it saw sales jump 21 per cent across its 3132 stores.

The company added that like-for-like sales were up 10 per cent as cold weather at many locations encouraged customers to snap up its winter offerings.

The boost brings to an end a difficult year for the company, with six of the last 12 months seeing a sales decline. Sales in the three months to end of November hit £3.3 billion and were helped out by the economic recovery across swathes of Europe, where H&M has most of its shops.

It follows from larger rival Inditex, owner of Zara, which also saw sales increase in the winter months, after a tough year. However, the Spanish giant was forced to admit its rapid growth was finally slowing.

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