Swedish fashion group Hennes & Mauritz posted a shallower-than-expected fall in October underlying sales on Monday, raising hopes its focus on low-cost clothing would shield it from a consumer downturn.
Israel Barragan and his wife Isabel Navarro are hoping for a good Christmas at their home and kitchenware store Piu e Piu in Madrid, but say even buoyant sales are unlikely to save the three-year-old business.
Swedish fashion giant Hennes & Mauritz still expects sales in Germany to grow this year despite weakening consumer sentiment in Europe's largest economy, the company's German head said on Tuesday, October 21st.
Swedish fashion giant Hennes & Mauritz reported on Wednesday a 2 percent year-on-year fall in sales at established stores in September as the growing crisis in the financial sector weighed on consumer spending.
Zara owner Inditex said on Wednesday that Spain was "slightly below average" compared to its other markets.The retailer was asked on an analyst call about how the consumer downturn in Spain was affecting it.