Hennes & Mauritz AB on Friday reported a 4 percent rise in first-quarter sales in local currencies, casting further light on the its performance during the challenging holiday period.
Dec. 1 to Feb. 28, the Swedish fast-fashion retailer, which is undergoing a companywide revamp to improve online services, reported sales of 51 billion Swedish kronor, or $5.5 billion, a 10 percent rise, with a positive currency rate effect.
Spanish rival Inditex, owner of Zara, reported a 7 percent increase in local currencies between Feb. 1 and March 9, and is projecting sales growth for the year of between 4 percent and 6 percent.
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