The Swedish fashion chain Hennes & Mauritz AB reported on Friday a decline in sales in January, marking the fourth consecutive month, as its business continues to be pressured by weak personal consumption in Europe.
Sales expressed in local currencies in stores open for more than a year decreased by four percent in the first month of this year compared to the same period last year. In the largest market in Europe, Germany, total clothing sales fell by as much as six percent.
Total sales for H&M, which includes sales in new stores opened less than a year ago, increased by five percent. At the end of January, the company had a total of 2,808 fashion houses, compared to 2,488 it had in the same period last year.
