H&M September sales rose at slowest pace in year

H&M, the world's second-biggest fashion retailer, saw recent strong sales growth slowed sharply this month as unusually warm weather delayed purchases of cold-weather gear, it said last week after reporting quarterly profit in line with expectations.

The Swedish company said sales in the Sept. 1-23 period rose 7 percent, compared with a near-20 percent increase in August, putting September on track to be the slowest month for sales growth this year.

In the six months from March through August, sales growth averaged 16 percent.

H&M has blamed September's unusually warm weather on the less than spectacular growth numbers. Chief Executive Karl-Johan Persson told a news conference "September was a little lower than we had planned because some products haven't sold due to the warm weather,"

The retailer’s first store in India, which was planned to open this fall, is now anticipated to open in 2015. H&M also announced last week that it will open stores in Taiwan and Macau next year.