Headlines

H&M, Levi’s Report Tough June

Sales continue to drop

Published

15 years ago

July 15, 2009

VMSD Staff

Hennes & Mauritz AB (Stockholm, Sweden) reported its same-store sales dropped 5 percent in June, an improvement over May’s 9 percent decline. Total sales in local currencies were up 4 percent over the period. The retailer reported its best monthly sales tally in April, when comparable store sales rose 8 percent. H&M operates 1827 stores, an increase of more than 200 stores over last year.

Levi Strauss & Co. (San Francisco) reported a second-quarter loss, with sales dropping 3 percent. The news comes as the apparel company finalizes the purchase of 73 Levi’s and Dockers outlets from Anchor Blue Retail Group Inc. The company also opened 30 new stores world-wide during the quarter.

Robert Hanson, president of Levi Strauss Americas, told The Wall Street Journal that retail continues to be an important part of our growth strategy. “It really allows us to showcase our product offering,” he says. The denim company says sales in the Americas were strongest during the quarter with revenue up 8 percent. Sales in Europe and Asia Pacific declined.

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