views

H&M in sales boost

FASHION chain Hennes & Mauritz posted a second consecutive rise in monthly same-store sales on – sparking hopes of a turnaround.

The figures came after seven months of falling figures last year as the downturn hit the group.

The global retailer of mid-range fashions said sales rose 1 percent year-on-year in January.

In December, the company posted a 3 percent rise in same-store sales, the first positive result since April, and beat expectations for its quarterly earnings.

Sydbank analyst Soren Lontoft Hansen said: “That is another positive month, due to the fact that you have easier comparables and due to the fact that it seems that consumers are returning to the stores.

“They’re not power shopping, but at least they are coming back.”

The Swedish chain is expanding in Asia, but its largest market remains in Germany.