Swedish fashion giant Hennes & Mauritz is expected to post a 9.1 per cent year-on-year rise in total October sales, the average of a Reuters poll showed today. Estimates in the poll of 10 analysts ranged from a 6.5 per cent rise to a 14 per cent rise with a median forecast for a 8.5 per cent rise.
Sales in stores open for more than a year were seen down 2.8 per cent, according to the average forecast, with a range between a fall of 5 per cent and a rise of 2 per cent.
The retailer operates six outlets in Ireland including at the Whitewater shopping centre in Newbridge Co Kildare, the Ilac centre on Henry Street in Dublin and at the Blanchardstown, Dundrum and Liffey Valley shopping centre. A seventh is due to open in Swords Co Dublin soon.
Germany - H&M's largest market - saw October clothing sales fall 5 per cent, according to industry journal
Textilwirtschaft. In Sweden, H&M's third biggest market, the HUI/Stil index for clothing sales was down 6.5 per cent.
In September, H&M total sales rose 10 per cent from the previous year while like-for-like sales fell 2 per cent.
H&M is due to publish the October figures on November 17th. It does not release absolute sales figures, only the percentage change in local currencies.
Reuters