Decline for clothes and shoes in February

February was a weak month for the fashion industry, shows the industry organization Svensk Handel's monthly Style Index.

"Higher inflation and reduced confidence in future interest rate cuts contribute to a dampened demand for, among other things, shoes and clothing", writes Svensk Handel in a press release.

Clothing sales fell 4.1 percent compared to the same month last year, while shoe sales fell 5.3 percent.

Online shoe sales decreased by 8.5 percent, while online clothing sales increased by 1.7 percent.

"The mild February weather affects the sales of winter clothing, but it's not the whole explanation. Consumers are still holding on to their money, and the uncertainty is greater than in a long time. It's obvious that the industry is still facing major challenges", says Sofia Larsen, CEO of Svensk Handel according to the press release.