H&M Group Sales Slowdown In September, An Increase Of 8%, Higher Than Expected

Founded in 1947 by Erling Persson in Sweden.

Today, H&M sells clothing, accessories and cosmetics in more than 1500 stores around the world.

The old H&M store in Stora Gatan street, Sweden, is the world's first H&M store.

H&M brand name is "Hennes" (Swedish "she" means) women's clothing and "Mauritz" men's brand combination, each takes the first letter to become "H&M".

The name of Hennes & Mauritz (H&M), a chain store from Sweden, may not be mentioned in Asia, but it is famous in Europe.

In terms of sales volume, H&M is Europe's largest apparel retailer, and its performance has continued to rise even in a recession.

H&M Hennes & Mauritz AB recently released its sales figures for September. In September 2014, H&M group's revenue, including VAT, increased by 8% at fixed exchange rates, up from 7% at the end of September, but it still slowed sharply compared with 20% in the three quarter.

When the three quarter earnings report was released in September 25th, H&M group said consumers were postponed by the warm weather.

Time has led to a sharp slowdown in sales. This phenomenon is also reflected in many apparel retailers including Next.

H&M group also said today that Karl-Johan Persson, the chief executive of the group, met with Bangladesh Minister of Commerce Tofail Ahmed a few days ago.

The issue of worker treatment is discussed.

Karl-Johan Persson reiterated the attitude of H&M group to improve workers' wages so as to ensure workers' minimum living needs.