H&M post poorer sales figures for April

HIGH street fashion chain H&M yesterday reported a worse-than-expected 6 per cent drop in sales for April as it was unable to keep up momentum following a strong performance the previous month.

The Swedish firm, known outside the UK by its full name Hennes & Mauritz, put the disappointing fall down to tough monthly and yearly comparisons.

Last month, the fashion house posted first-quarter earnings well above expectations and racked up a 9 per cent increase in monthly same-store sales, due in part to intense shopping activity over the Easter weekend.

April's same-store sales – defined as sales at stores open for more than one financial year – also suffered. Analysts had forecast a 4.5 per cent drop.

Anders Wiklund, an analyst at Evli, said: "You had an extremely strong April last year and you had a negative calendar effect," he said.

"It's still slightly softer (than forecasts], partly due to the weather."

Total sales were up 4 per cent, against market forecasts of a 6.1 per cent rise.