H&M

H&M battles with landlords over rents

Fashion retailer H&M is battling with landlords over rent reductions, which could potentially see property owners bear the cost of the rising number of returned clothes. According to a report from The Times, the retailer is pushing for “total occupational deals” where it discusses with landlords a sum linked to…

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H&M sales jump 11% in Q2 results

Fashion retailer H&M has reported an 11% increase in net sales to 57.4bn in Swedish kroner (£4.8bn) in its Q2 results, compared with the sales rise of 2% seen during the same period last year. It is the fifth straight quarter of consistent sales growth for the company, but despite…

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H&M to scrap Cheap Monday brand leaving 80 jobs affected

H&M has announced it is to close down its Cheap Monday brand blaming “a negative trend in the Cheap Monday’s sales and profits over a long time”. The fashion retailer said the fashion industry is “in a period of extensive change as a result of ongoing digitalisation” and as such…

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H&M invests £15m stake in Klarna

H&M and Klarna have announced they have entered into a £15m global partnership as the Swedish clothing retailer acquires a less than 1% stake in the fintech company. The clothing retailer said the equity investment demonstrates a “shared commitment and vision to the continual development of smarter retail where optimisation…

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H&M posts 9% sales increase

H&M’s group sales have increased by 9% according to the fashion chain’s Q3 financial update. Performance exceeded analysts’ expectations, resulting in the company’s highest share increase in 17 years. The firm attributed to the results to investment in its online offerings and logistics systems. Investors rallied to what seemed to…

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H&M profits plunge 22% prompting price cuts

H&M has reported a 22% drop in profits before taxation for the first half of the year, with its CEO saying he expects a “tough first half-year”. Profits fell to 6bn Swedish krona (£510m) and net sales were almost flat at 51.98bn krona (£441m). Overall, its sales for 2018 Q1…

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H&M sales fail to hit expectations

The Swedish fashion brand H&M has revealed that it missed its sales expectations for the second quarter sales growth in its latest financial report. The retailer reported a shares decrease of 3.6% in early trading as well as unchanged sales in local currencies from March to May including VAT, meaning…

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H&M’s pre-tax profits plunge 61%

H&M’s pre-tax profits dropped by 61% the three-month period ending 28 February 2018 compared with the same period the previous year. The Swedish retailer’s profits fell by 1.26bn Swedish crowns (£108.24m), slightly short of the 1.29bn analysts expected. Shares fell by 5% in early trading, putting it at its lowest…

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