H&M February Comparable Sales Down 3%

Hennes & Mauritz AB

reported a 3% drop in its sales at stores open for at least a year in February. Analysts were expecting comparable sales to decline 0.7% in February. Its total sales, including VAT in local currencies, climbed 5% in February. However, analysts had expected sales to increase 9.1%. For its first fiscal quarter, H&M's sales surged to SEK28.39 billion, versus SEK27.83 billion. Hennes & Mauritz shares closed at $7.22 yesterday.