H&M's Sales Slump Signals Slow Fashion Season Start

H&M reported weaker-than-expected sales in its first quarter, with sales reaching 55.3 billion Swedish crowns, missing the forecast of 55.9 billion. The fast-fashion retailer noted a 1% sales increase in March, indicating a sluggish beginning to its spring and summer season.

Swedish fast-fashion giant H&M has announced sales figures that fell short of expectations for its first-quarter earnings. Despite a modest increase in sales by 1% in March, the company reported total revenues of 55.3 billion Swedish crowns for the December-February quarter, which missed the anticipated 55.9 billion crowns.

The reported figures underscore a slow start to the company's spring and summer season, posing a challenge as they navigate the competitive fashion landscape. This could potentially impact their fiscal outlook for the year.

The results have highlighted the company's need to rethink strategies as they face economic pressures and changing consumer behaviors exacerbated by the global economic climate.

(With inputs from agencies.)