PARIS — Swedish fashion retailer Hennes & Mauritz on Wednesday reported a worse-than-expected drop in June same-store sales, suggesting that markets remain tough despite some early signs of recovery from the economic downturn.
H&M, the world’s third largest fashion chain behind Gap Inc. and Spain’s Inditex Group, said comparable sales dropped 5 percent last month. Total sales, which include contributions from new stores, rose 4 percent in the same period. At the end of June, H&M operated 1,827 stores, compared with 1,600 a year ago.
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