Cold weather hits fashion chain
Swedish fashion chain H&M has reported that its like-for-like sales fell 8 per cent in March compared with the same period last year. Total turnover at the retailer was static.

In a statement, the fashion retailer said the delayed start of the season - attributed to cold weather and a late Easter - led to very weak sales, mainly in central Europe.

At the end of last month, the group announced a 16 per cent increase in its first-quarter profits. Profit after financial items was Skr2.68 billion (£199.7 million), on sales of Skr15.07 billion (£1.12 billion) for the period from December 1 to February 28.

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