Retail news round-up: H&M reports slow growth in sales, and shopping centre landlord New River to raise £200m.
H&M reports slow growth in sales
H&M has reported a 4% increase in year-on-year sales for May on a constant currency basis, down from 7% in April, This Is Money reported.
The overall second-quarter sales growth to the end of May was 5%.
However, the total second-quarter sales excluding VAT increased 10% to £4.6bn.
The fashion chain increased its global store base by 421, with a total of 4,498 stores.
Shopping centre landlord New River set to raise £200m
New River, the shopping centre landlord, is set to raise £200m on the stock market, The Telegraph reported.
The company is hoping that approximately £60m of the proceeds will be used to buy a 50% stake in a portfolio of five shopping centres.
It is also earmarking £30m to extend its partnership with the Co-op, turning a number of pubs into convenience stores.
The company said the remainder will be used on further acquisitions.