Although the group continues to be affected by COVID-led disruptions, H&M Grou’s sales have reached pre-pandemic levels in recent weeks. As per Women’s Wear Daily, sales surged 75 per cent in the second quarter ending May 21 up 35 per cent in local currencies for June 1 to 13 period compared to 2019, they surged by 2per cent.
The group’s quarterly sales figure fell slightly short of analyst expectations. However, as per analyst, progress achieved at the outset of the third quarter is ahead of consensus forecasts which helps it to maintain forecasts. H&M, which operates Cos, Monki, & Other Stories, Arket and Weekday in addition to H&M, has also been cutting costs and shedding jobs in Spain. The group has been renegotiating leases for retail network since the pandemic. Executives at the group are continuously evaluating the fleet of physical stores, even as they wait for customers to return. In recent years, the group has also been integrating digital shopping avenues with stores as a key priority.