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H&M sales up four per cent

H&M had a four per cent year-on-year rise in sales for May. This is the latest in a string of soft sales numbers from the world’s second biggest fashion retailer based in Sweden. H&M faced tough conditions in many of its markets. Its shares are down 16 per cent this year.

After decades of strong growth, H&M has repeatedly missed sales forecasts over the past year while earnings have come under pressure from heavy investment and stiff competition from budget rivals and new online players.

The young value fashion market in which the H&M concept operates is very difficult. Inditex has outperformed H&M and other rivals over the past few years on the back of online growth and its flexible fast-fashion model.

H&M has disappointed market expectations on sales trends for many months now. May is the final month of the group's fiscal second quarter and its net quarterly sales reached 51.4 billion Swedish crowns for the period.

H&M is investing significantly in the supply chain, such as in new logistics solutions with greater levels of automation, but also in optimising its lead times. H&M has been investing heavily in IT investments to integrate its stores and e-commerce and make its supply chain faster and more flexible.

 
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