H&M comparable sales fall in June for first time since March

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The company logo is placed at the flagship store of H&M, Hennes & Mauritz, HMb.ST, the world's second-biggest fashion retailer is seen in StockholmSTOCKHOLM (Reuters) – The world's second-biggest apparel retailer Hennes & Mauritz on Thursday unexpectedly posted a small decrease in July like-for-like sales, the first monthly drop since March. Sales in stores open at least a year at the Swedish budget fashion firm were down 1 percent in local currencies in July from a year earlier, against a mean forecast in a Reuters poll of analysts for a 1 percent rise. Total sales in the month – the second of H&M's fiscal third quarter – were up 9 percent in local currencies, against a forecast for a 10 percent rise. …