Business

Hennes & Mauritz sales fall by 5%

H&M sign
Image caption During December to February, H&M said profits dropped to 2.62bn kronor

Swedish fashion giant Hennes & Mauritz said like-for-like sales fell by 5% in March from the same month a year earlier.

The firm said that the strong sales in March 2010 had been boosted by good Easter sales.

H&M said total sales - which include new stores - rose 2%.

Last month the fashion chain said its first quarter profits had fallen by 30%, blaming higher cotton prices and the value of the Swedish krona.

During December to February, H&M said profits dropped to 2.62bn kronor ($421m; £258m), from 3.54bn kronor in the same period a year ago.

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