SALES GROWTH SLOWS AT H&Ma
SWEDISH fashion retailer Hennes & Mauritz yesterday said its sales growth slowed to two per cent in May, less than half the level analysts expected, due to a sharp appreciation in the krone. H&M, the world’s second-biggest clothes seller with 2,300 stores in 40 countries, said turnover in the March to May quarter rose to 27.6bn krone (£16.8bn), excluding VAT. Analysts had expected 5.4 per cent growth.