Business

H&M sees 3% drop in monthly sales

Frenzy: Williamson for H&M
11 April 2012

Fashion chain H&M today posted a 3% drop in like-for-like sales in July, as it refused to slash prices as much as rivals.

Its High Street competitors offered mega-markdowns to tempt shoppers, but analysts said Hennes & Mauritz tried to maintain margins.

The company is hoping to repeat frenzy seen at its stores when Matthew ­Williamson launched his budget range, with the launch of a shoe collaboration with Jimmy Choo in the Autumn.

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