H&M reinstates divided payments as profits triple on back of global recovery September 30, 2021 Swedish retail giant H&M nearly tripled its profit during the past quarter on the back of a “strong recovery” in sales as restrictions eased across the globe. H&M told shareholders this morning that it had reinstated its dividend for the first time in 18 months as a result. It reported a pre-tax profit of £520m [...]
H&M to cut 250 stores this year as customers head online July 1, 2021 H&M plans to shut 250 stores globally this year as part of its strategy to recover from the Covid-19 pandemic, which saw many of its shops shut for months at a time. The fashion retailer said the closure of the shops was in response to more customers shopping online, but declined to say how many [...]
Sales at H&M soar as restrictions ease but lag behind pre-pandemic levels June 15, 2021 Sales at H&M jumped in the retailer’s second quarter of 2021, however they remained well below the pre-pandemic sales recorded during the same period in 2019. Between 1 March to 31 May 2021, net sales at the clothing retailer grew 62 per cent in the period from a year earlier, or 75 per cent measured [...]
H&M dives into the red and rules out dividend payment March 31, 2021 Retail giant H&M reported a loss for the December-February period this morning and confirmed it will not propose a divided at its upcoming annual general meeting. However, the Stockholm-based clothing giant did not rule out a divided later in the year. The world’s second-biggest fashion retailer pre-tax loss during the fiscal first quarter was $159m, [...]
H&M majority-owned second-hand shop Sellpy expands across 20 more EU countries May 31, 2021 Majority-H&M-owned online second-hand shop Sellpy is set to expand its stores across 20 more European countries, the company said today. The Swedish start-up, which picks up the goods from sellers’ homes, and photographs and sells them online, will now be available in a total of 24 markets after launching in 2014. The second-hand market is [...]
H&M sales pick up in March as some markets allow stores to reopen March 15, 2021 H&M announced that sales began to pick up in the first half of this month as coronavirus pandemic restrictions have lifted in some markets. Sales between 1 and 13 March were up 10 per cent in local currencies as many countries, including single-biggest market Germany, began to lift restrictions, allowing the retailer to open hundreds [...]
H&M sales drop as second Covid-19 wave slows recovery December 15, 2020 H&M reported a sharp drop in sales in the fourth quarter as the second wave of coronavirus restrictions curbed spending. The world’s second-biggest fashion retailer said sales dropped 10 per cent, driven by a slowdown in the final quarter of the month. H&M said the recovery seen in the third quarter had continued into the [...]
H&M makes fashionable comeback in coronavirus turnaround September 15, 2020 H&M surpassed analyst estimates on profit in its most recent quarter, helping the world’s second biggest fashion retailer to bounce back after the coronavirus pandemic weathered sales. Profit before tax for the three months to the end of August was around 2bn Swedish crowns (£177.1m), beating analysts’ mean forecast of 191m crowns according to data [...]
H&M to close 250 stores as pandemic accelerates shift online October 1, 2020 H&M has announced plans to close around 250 stores globally next year, as the Swedish retailer looks to bolster its online presence following a slump in bricks-and-mortar sales during the pandemic. The announcement comes on top of the 50 H&M stores already permanently shuttered this year, and will likely add to the “tens of thousands” [...]
Zara owner sees sales soar to £28.8bn as young shoppers shrug off cost of living crisis to splash cash on latest trends March 15, 2023 The owner of high street fashion chain Zara said young shoppers remained to spend cash on the latest trends despite rising inflation and the cost of living crisis. Inditex, which also owns popular brands such as Pull&Bear and Bershka, reported a sales growth of €32.6bn (£28.8bn) up 17.5 per cent from the same period last [...]