Cold weather and economic turmoil hits April sales at H&M

Yesterday the group said sales in April were also down 1 per cent, while like-for-like sales dropped 10 per cent in the year, in both cases the biggest drop since August 2009.

“Sales in April have mainly been affected by unfavorable weather, but also by a very negative calendar effect,” the company said in a statement.

But the previous month, the retail giant said warm weather had brought a spike in sales.

H&M has 2,500 stores in more than 40 countries, but makes the bulk of its sales in Europe. The Stockholm-based retailer last year saw demand ease in the crisis-hit euro zone as it struggled with rising wages in manufacturing centres in Asia and higher transport costs.