A balmy September across Europe saw shoppers leave autumn fashions on the shelves, leading to a slowdown in sales at the clothing giant H&M.
Sales at H&M rose just 7 per cent in September, against a near 20 per cent increase in August, putting it on track to be the group’s worst month this year.
The world’s second-biggest fashion retailer still reported a strong third quarter, with sales up 21 per cent at 38.8bn Swedish kronor (£3.3bn), while net profits rose 19 per cent to 5.29bn kronor. It is planning 375 new stores this year and is stepping up the roll-out of its websites globally. Next month it opens its first store in the Philippines.
Meanwhile Mitchell & Butlers blamed the teeming rain in August for knocking back pub sales after a World Cup boost in July. The 1,600-strong pub chain said August had been a “difficult” month with consumers “cautious about spending”.
Like-for-like sales in the last nine weeks were up just 0.1 per cent against 0.7 per cent in the first 42 weeks of the year.Reuse content