H&M comparable sales slide 5% in October

Swedish fashion retailer H&M Hennes & Mauritz AB said its comparable sales fell 5% in October, the largest drop since April.

Comparable units comprise the stores and the internet and catalog sales countries that have been in operation for at least a financial year.

Revenue at local currency rates and including VAT rose 4% compared to October last year, helped by the addition of 305 new stores during the year.

The retailer currently operates 2,715 stores. Its results have fluctuated over the course of the year, with a 16% comparable sales gain in March followed by a 10% drop in April.

Analysts had expected the sales momentum seen in September, when comparable sales increased 6% and total sales surged 15%, to have continued into October.

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