Flat H and M sales bring share fall prediction
The Local · 18 Apr 2006, 09:52
Published: 18 Apr 2006 09:52 GMT+02:00
"The company also points out that the timing of Easter had changed, falling in April this year compared with March last year," said Credit Suisse, while pointing out that other retailers that have already reported sales over this period said this only had a negative impact of 1 pct.
The Swiss broker repeated its 'underperform'.
Merrill Lynch said there is an increasing risk that the group will have to start discounting its range and said it believes a pick-up in April looks unlikely, which means forecasts are likely to come under pressure.
The US broker repeated its 'sell' stance.