Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,831.78
    -45.27 (-0.57%)
     

  • Bitcoin USD

    64,892.87
    +3,387.22 (+5.51%)
     

  • CMC Crypto 200

    1,330.74
    +18.12 (+1.40%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,396.70
    -1.30 (-0.05%)
     

  • Crude Oil

    83.20
    +0.47 (+0.57%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

H&M's October sales rose roughly as expected

Reuters

STOCKHOLM (Reuters) - Budget fashion retailer Hennes & Mauritz (HMb.ST) reported on Tuesday a 10 percent year-on-year increase in local-currency sales in October, roughly matching expectations.

Analysts polled by Reuters had on average expected a 9.5 percent increase in October, which is the second month of the Swedish group's fiscal fourth quarter.

In September, growth was a mere 1 percent, for which H&M blamed unseasonably warm weather in key European markets which left autumn-wear unsold.

Analysts had expected a pickup in October from September helped by chillier weather and markdowns following unexpectedly weak August and September sales.

ADVERTISEMENT

On an annual basis, sales growth at H&M has with the exception of August been slower every month since October 2015.

H&M did not comment on the sales figure. It is due to publish its fourth-quarter report on Jan. 31.

(Reporting by Anna Ringstrom, editing by Terje Solsvik)