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H&M Q2 sales up two per cent

For Q2 H&M’s sales including VAT increased by two per cent. Gross profit margin was 56.1 per cent. In 2018, H&M plans to open around 390 stores resulting in a net addition of 240 new stores for the year.

The group is going through a period of transformation to make the company even more customer-driven, efficient and flexible. This includes necessary transitions to new logistics systems that will allow even better availability, speed and transparency. H&M Home will broaden its product range in the second half of 2018 to include lamps and furniture. In 2019, Bosnia-Herzegovina will be new H&M store market and Mexico a new H&M online market.

The company went into the second quarter carrying too much stock and there were still some imbalances in the assortment – something that H&M is gradually correcting. As a part of the transformation work the company is transitioning its logistics systems to make the supply chain even faster, more flexible and more efficient. These complicated transitions resulted in temporary interruptions during the second quarter in some of its major sales markets. This impacted sales negatively in the US, France, Italy and Belgium and online in the Nordic region.

 

 
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