H&M not immune to recession
Swedish fashion chain H&M reported today an 8% decline in same-store sales for the month of September. Same-store sales measure stores open for at least a year and are considered a key measure of a retailer’s health.
Total sales fell 1% in local currencies.
H&M, a “fast fashion” leader, is one of the industry competitors that is hurting industry juniors sales because it offers more fashionable clothing at lower prices, many retailers and action sports executives have told me.
H&M operates 1,869 stores around the world.
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