PARIS — Hennes & Mauritz AB said same-store sales fell 2 percent in October, following a 7 percent decrease in September, as households cut back spending amid fears of a renewed recession in the Euro zone, its largest market.
Sales in local currencies were up 8 percent, an improvement versus September, when they registered a 3 percent increase, the Swedish high-street retailer said. In October 2010, H&M had reported a 3 percent rise in same-store sales and a 13 percent increase in local currencies.
The store count at the world’s third-largest fashion chain stood at 2,410 doors on Oct. 31, compared with 2,143 stores at the same time last year. H&M is to publish sales figures for November and total revenues for the fourth quarter on Dec. 15.