IN BRIEF (Page 17)

H&M March sales fall

Swedish fashion giant Hennes & Mauritz reported a bigger-than-expected fall in sales at established stores in March as shoppers cut spending in the toughest economic climate in decades.

H&M, the world's third-biggest clothing retailer by sales after Gap Inc and Zara owner Inditex, reported a 3 percent year-on-year drop in sales at established stores in March. Analysts in a Reuters poll had forecast same-store sales would be down just 0.2 percent, although predictions ranged from a fall of 3 percent to a rise of 2 percent.