Swedish textile retailer’s Czech sales drop by 92 million Czech crowns

04-08-2010

The Swedish textile retailer H&M Hennes and Mauritz has seen its sales drop by about 92 million crowns in the Czech Republic this year as compared to 2009, despite the fact that the company opened three new stores in the Czech Republic, bringing its total number to 19. This represents a continuing a trend from the previous year, when H&M Hennes and Mauritz’s sales dropped by about 19 million crowns. Experts say that this is part of a bigger trend in the textile industry, which is going through a severe crisis. The sales of the country’s 37 biggest textile retailers dropped by 600 million Czech crowns in 2009.