Despite widespread disruption to its business in the last year due to COVID-19, Helena Helmersson, CEO, says the company has adapted rapidly to shifting market conditions by accelerating its digital transformation and increasing efforts to make its products more sustainable.
As per Women’s Wear Daily, H&M’s sales over the three months ending February 28 declined by 21 per cent, reflecting ongoing choppy trading conditions for fast-fashion retailers. The group, which operates Cos, Monki, & Other Stories, Arket and Weekday in addition to H&M, has been cutting costs and renegotiating leases for its retail network since the pandemic struck. Before COVID-19, it had embarked on an overhaul of operations to improve digital services and spruce up its offer. Signs of improvement had begun to emerge as the crisis hit.
