H&M’s sales have slowed down compared to last year despite having 354 more stores, including the addition of its biggest store in the world in New York City’s Herald Square.
Though sales were down this spring, revenue sales went up 10 percent in the month of May. The Swedish fashion chain is hardly under-performing, taking in $5.6 billion in sales from March-May.
During the first quarter of the year, sales were bumped up by 14-15 percent, so the 10 percent is a bit of a decrease. Around the same time last year, sales were up 19 percent, Fashionista reports.
H&M now owns 3,639 stores worldwide. As we previously reported, H&M was ranked 97th on the Which? survey of 100 retailers, just above Topshop.