{"id":11230,"date":"2023-12-16T08:59:20","date_gmt":"2023-12-16T08:59:20","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/hm-sees-stagnant-sales-in-fourth-quarter-following-warm-weather\/"},"modified":"2023-12-16T08:59:20","modified_gmt":"2023-12-16T08:59:20","slug":"hm-sees-stagnant-sales-in-fourth-quarter-following-warm-weather","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/hm-sees-stagnant-sales-in-fourth-quarter-following-warm-weather\/","title":{"rendered":"H&M sees stagnant sales in fourth quarter following warm weather"},"content":{"rendered":"

\"Retail<\/a><\/p>
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\"H&M\"<\/div>\n

H&M Group saw stagnant sales during its fourth quarter, following \u201cunusually hot weather\u201d, which hampered sales of its autumn ranges.<\/p>\n

The retailer also faced slowed consumer spending and knock-on effects of shops closing in Russia.<\/p>\n

The fashion giant posted net sales of almost \u00a35bn (SEK63bn) during its final quarter to November 30.<\/p>\n

Net sales at the retailer\u00a0fell 4% in local currencies year on year.<\/p>\n

However, this is an improvement on the 10% sales plunge it experienced in September.<\/p>\n\n

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For H&M\u2019s full year to 30 November, net sales were up 6%, hitting over \u00a318bn (SEK236bn).<\/p>\n

The news comes after the business posted \u201cflattish\u201d sales in most local currencies during its third quarter, despite notching up a bigger than expected rise in quarterly profits.<\/p>\n

H&M is due to publish its full-year report for its 2023 financial year in January.<\/p>\n

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