Cold weather gives H&M a boost as November sales jump by 10%

Swedish budget fashion retailer Hennes & Mauritz (H&M) said yesterday that sales in stores open at least a year rose more than three times market expectations in November as cold weather encouraged sales of winter clothing.

November sales jumped 10%, overshooting a mean forecast in a Reuters poll of analysts for a 3% rise in local currencies.

H&M performed well throughout the global downturn, although it was harder hit by the European debt crisis than its bigger rival, Zara-owner Inditex, which sells more clothes in emerging markets.