June 29 (SeeNews) - The sales of Swedish fashion retailer Hennes&Mauritz (H&M) in Romania decreased by 27% year-on-year to 879 million Swedish crowns ($94.4 million/84 million euro) in the first half of fiscal year 2020 started December 1, the company said.
In the local currency, H&M sales in Romania fell 26% over the review period, the company said in its first-half financial report published on Friday.
In the second quarter of FY2020 alone, H&M sales in Romania plummeted by an annual 57% to 268 million crowns.
H&M operated 57 stores in Romania at the end of May.
In fiscal year 2019, H&M sales in Romania increased by 15% to 2.642 billion Swedish crowns.
In Southeast Europe, H&M is also present in Slovenia, Bulgaria, Croatia, Serbia and Turkey.
(1 euro = 10.4914 Swedish crowns)