PARIS — Hennes & Mauritz AB said same-store sales fell 7 percent in September, their sharpest monthly drop in almost two years.
H&M did not provide an explanation for the month’s poor performance, which came amid unseasonably warm weather across much of Western Europe and weakening consumer sentiment in the Euro zone. The decrease was the largest since November 2009, when same-store sales fell 9 percent. Sales in local currencies were up by 3 percent, slowing down from August when they registered an 8 percent increase, the Swedish high-street retailer said. In September 2010, H&M had reported an 8 percent rise in same-store sales and a 16 percent increase in local currencies.
The store count at the world’s third-largest fashion chain stood at 2,363 doors on Sept. 30, compared with 2,111 stores at the same time last year.