Growth the slowest for a year for the Swedish international fashion brand
Hennes & Mauritz has experienced a massive drop in year-on-year turnover growth, from 13 per cent in December, to 5 per cent in January. The figure is the lowest consecutive growth figure for the highly successful Swedish brand since November 2003 and a far cry from the 12-month high of 24 per cent increase year on year experienced in November last year.

The retailer said that a 5 per cent hit on growth had to be taken into account because of the drop in consumer spending across the board after Christmas. Even with traditional holiday peaks and troughs taken into account, the dip in trading between January and December this year is the steepest the retailer has known for the past four years.