H&M April comparable sales fall 10 percent

STOCKHOLM - Swedish budget fashion giant H&M said on Tuesday sales at stores open a year or more dropped 10 percent in local currencies in April, right in line with a Reuters poll forecast.

Overall sales eased one percent from a year earlier compared with a mean forecast for no change.

In March, same-store sales spiked 16 percent and total sales 26 percent on the back of warm weather and calendar effects. H&M has cautioned that colder temperatures and fewer shopping days would have a very negative effect in April.

© Thomson Reuters 2014 All rights reserved.