Slower Sales Growth Sees H&M Stock Slump
H&M stock is falling on reduced sales growth.
Slower sales growth saw H&M's stock slump. The Swedish fast-fashion retailer said sales in local currencies were up 6%. This was against analysts' expectations of around 8%. Sales were up 10% when converted in Swedish Kronor.
H&M stock lost 2.44% in Stockholm in the first hour of trading. This extended the stock's 52-week decline to 12.32%. This comes as H&M faces intense pressure from Zara-owner Inditex.
