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Fashion Jobs
H&M
Project Manager – New Business Development at h&m Home
Permanent · Stockholm
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Experience Design Director/Product Area Lead Designer For Customer-Facing Products
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LEVI'S
Key Account Manager
Permanent · Stockholm
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Product Owner (Functional Lead) - Core HR Processes
Permanent · Stockholm
H&M
Product Area Manager - Inspire & Discover (Customer Domain)
Permanent · Stockholm
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Product Area Manager – Evaluate & Decide (Customer Domain)
Permanent · Stockholm
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HR Business Partner to h&m Group Business Tech
Permanent · Stockholm
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Production Manager to h&m Global Marketing & Communications
Permanent · Stockholm
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Software Engineers With Adobe Campaign Skills to h&m Business Tech - Customer Domain
Permanent · Stockholm
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Chemical Compliance Specialist Cosmetic Products
Permanent · Stockholm
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3d Business Expert - Competence Lead to h&m Business Tech
Permanent · Stockholm
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Product Owner For One of The Style Products Within Customer Engagement Area
Permanent · Stockholm
H&M
Product Owner to Global Connectivity, h&m Group
Permanent · Stockholm
H&M
Merchandise Manager
Permanent · Stockholm
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Cross Delivery Coordinator to Sap Test Management, h&m Group
Permanent · Stockholm
H&M
Data Analyst to Allocation Precision Team to Business Tech
Permanent · Stockholm
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Head of Expansion & New Business - h&m Beauty
Permanent · Stockholm
H&M
Data Analyst to h&m Business Tech - Payments Area
Permanent · Stockholm
H&M
Product Area Analyst For Customer Commerce Delivery @h&m Business Tech
Permanent · Stockholm
H&M
Product Owner to Store Lifecycle
Permanent · Stockholm
H&M
Data Analyst to an Inventory Optimization Team in Business Tech
Permanent · Stockholm
H&M
Information Security Specialist
Permanent · Stockholm
By
Reuters
Published
Dec 15, 2016
Reading time
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H&M monthly sales growth lags expectations

By
Reuters
Published
Dec 15, 2016

H&M, the world's second-biggest fashion retailer, reported sales growth in November roughly in line with the previous month, missing analysts' expectations for an acceleration on the back of demand for winter clothes.

H&M had been expected to report better November trading


The news cast further doubt on the extent of a recovery flagged by the Swedish fast fashion firm after years of tightening margins and several quarters of declining profit.

H&M and some rivals have been underperforming market leader Inditex, partly because the owner of the Zara stores has a supply chain that enables it to react more quickly to shifts in demand, making it less exposed to variations on weather.

H&M's local-currency turnover in November was up 9 percent from a year earlier, against a mean forecast in a Reuters poll of analysts for a 15 percent rise.

Inditex, meanwhile, said on Wednesday its sales growth was 16 percent in November and the first half of December.

H&M's shares traded 3.8 percent lower at 08:15 GMT, taking a year-to-date fall to around 14 percent against a year-to-date 1 percent rise for Inditex.

H&M has in the past year blamed sales misses on unseasonable weather, such as in September when growth stalled at a mere 1 percent after a warm start to autumn in Europe. In October, growth picked up to 10 percent.

Some analysts are however increasingly concerned that H&M is facing more fundamental structural issues such as tougher competition and the need to speed up its supply chain.

"In November, clothing markets across western and northern Europe should have been supportive, benefiting from colder weather year on year," SocGen analyst Anne Critchlow said.

"It remains to be seen whether H&M can accelerate sales in the first month of its new fiscal year, December, or whether slow sales trends will lead to increased mark-downs once again in the first quarter, to end February," she added. SocGen has a "Sell" rating on the stock.

H&M said sales in September through November, its fiscal fourth quarter, totalled 52.7 billion crowns ($5.7 billion), up from a year-ago 48.7 billion but below a forecast 53.5 billion.

H&M, which is due to publish its full quarterly earnings report on Jan. 31, did not comment on the sales figures.

 

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