Sales at Swedish family-run business H&M are not growing as strongly as forecasted, leaving managing director Karl-Johan Persson under increased pressure.
Last month, sales at H&M rose just 3% compared to July 2010 - a significant change on the company’s predicted growth of 4.7%. Comparable units sales also took a knocking, decreasing by 6%. Comparable units comprise the stores, online shops and catalogue sales in countries that have been in operation for at least a financial year.