×
99 116
Fashion Jobs
ROSS STORES
Store Protection Specialist
Permanent · Houston
TJ MAXX
lp Detective
Permanent · Homestead
TJ MAXX
70118-Loss Prevention Detective, Newbury st, Boston, ma
Permanent · Boston
HOMEGOODS
lp Detective
Permanent · Frederick
TJ MAXX
70118-Loss Preventon Detective, Downtown Boston, ma
Permanent · Boston
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Chattanooga
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Norman
MACY'S
Asset Protection Detective, Bridgewater Commons - Full Time
Permanent · Bridgewater Township
MACY'S
Asset Protection Security Guard, Presidential Markets - Full Time
Permanent · Snellville
MACY'S
Asset Protection Detective, Santa Ana Mainplace - Part Time
Permanent · Santa Ana
MACY'S
Asset Protection Detective, Reno Meadowwood - Full Time
Permanent · Reno
MACY'S
Asset Protection Detective, Topanga - Part Time
Permanent · Los Angeles
BLOOMINGDALE'S
Asset Protection Outlet Supervisor, Outlets at Orange - Full Time
Permanent · Orange
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Roosevelt Field - Part Time
Permanent · Garden City
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Palmdale
KOHLS
Full-Time Loss Prevention Officer
Permanent · Pleasant Hill
KOHLS
Human Resources Generalist - Logistics
Permanent · DeSoto
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · West Des Moines
COTY
sr. Manager, Ecommerce Trade Mkting
Permanent · Los Angeles
COTY
Manager, Ecommerce Trade Mkting
Permanent · Los Angeles
COTY
Manager, Ecommerce Independents
Permanent · Los Angeles
GAP
Design Director - Women's Concept
Permanent · New York
By
Reuters
Published
Oct 15, 2008
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

H&M Sept same-store sales sag as crisis weighs

By
Reuters
Published
Oct 15, 2008

STOCKHOLM, Oct 15 (Reuters) - Swedish fashion giant Hennes & Mauritz reported on Wednesday a 2 percent year-on-year fall in sales at established stores in September as the growing crisis in the financial sector weighed on consumer spending.

The average forecast of 10 analysts was a 2.5 percent fall, according to a Reuters survey. H&M only gives round numbers for sales and does not give currency figures.

Total sales for the month were up 10 percent against a forecast of a 9.1 percent gain.

"It was a positive surprise," Christian Nagstrup, analyst at Jyske Bank, said. "In the third-quarter report they said that sales up to the 28th September had gone up 9 percent. So the last few days nudged the figure a bit in the right direction."

The company does not usually give any commentary with the figures.

The retail environment has deteriorated in recent months as a global financial crisis deepens.

While H&M and Spain-based rival Inditex have weathered the better than some due to their price-conscious fashion focus, they are also feeling the squeeze.

In its report for the first half, Inditex said it saw no significant risks or uncertainties in the second half. It also stuck with a forecast for 4 percent like-for-like sales growth. Analysts, however, said this would be tough to achieve with just a 1 percent rise in same-store sales in the first half.

H&M's third-quarter pretax profit undershot expectations as the company was forced to make bigger discounts than the previous year. It also pointed to higher transport costs and higher prices in the countries where its clothing is produced. (Reporting by Simon Johnson; editing by Sue Thomas)

© Thomson Reuters 2021 All rights reserved.