Sweden’s Hennes & Mauritz said same-store sales dipped 2 percent in June as inflation and economic worries kept shoppers out of stores. The fast-fashion giant said sales overall gained 8 percent on new store openings. H&M last month said same-store sales gained 14 percent. European retailers have been beset by diving consumer confidence and rising inflation linked to expensive gas and oil.
This story first appeared in the July 16, 2008 issue of WWD. Subscribe Today.