Swedish apparel sales rises in Feb

The latest index of the Swedish Federation of Commerce and Industry (Svensk Handel) shows that compared with the same month last year, sales of Swedish apparel retailers in February increased by 6.1% and footwear increased by 0.7% (calculated at current prices). Sofia Larsen, chief executive of Swedish Trade Federation, said the rise in sales may be a discouraging trend that is likely to continue, and that the fashion industry is facing pressure from all sides. The rising cost of living has made customers less able to spend, meanwhile rents in many stores have risen by more than 11 % since the beginning of the year, raising serious concerns that many stores and jobs will disappear.