PARIS — Hennes & Mauritz AB reported an increase of 1 percent in total sales for November, but a 9 percent decline in same-store sales for the month — the seventh consecutive month of declines.
This story first appeared in the December 16, 2009 issue of WWD. Subscribe Today.
However, the Swedish fast-fashion retailer noted that sales were off to a “satisfactory start” in December, with an increase of 11 percent during the first two weeks of the month compared with the same period last year.
The brand’s lingerie collaboration with French designer Sonia Rykiel bowed in stores worldwide on Dec. 5, which followed a tie-up with luxury shoemaker Jimmy Choo in November.
H&M does not break out actual sales figures but only releases percentage changes for monthly sales.
Although full-year results will not be published until Jan. 28, the monthly report published by the chain on Tuesday showed a 4 percent increase in sales for the year, with sales from stores open for at least a financial year declining 5 percent. H&M’s financial year runs from Dec. 1 to Nov. 30.
The store count at the world’s third-largest fashion chain stood at 1,988 doors on Nov. 30, compared with 1,738 stores at the end of the 2008 financial year.