H&M Hennes and Mauritz has recorded its fourth consecutive month of comparable store sales declines, down 4% during January.
Bank of America Merrill Lynch analyst Richard Chamberlain attributed the results to very cold weather in many of the retailer’s European markets in the second half of the month, which would have impacted traffic and demand for spring fashions.
Overall sales increased 5% during January.
“To us the apparel industry often seems too optimistic in relying on mild w