H&M group’s second-quarter sales slump | News

Davida Erdahl

Online product sales amplified by 36% in SEK and 32% in community currencies during the very same interval.  The group’s full product sales involving 1 and thirteen June reduced by 30% in community currencies, as opposed with the very same interval in 2019. H&M team, which owns & Other Tales, […]

Online product sales amplified by 36% in SEK and 32% in community currencies during the very same interval. 

The group’s full product sales involving 1 and thirteen June reduced by 30% in community currencies, as opposed with the very same interval in 2019.

H&M team, which owns & Other Tales, Arket, H&M, Cos, Weekday, Monki, and Low-cost Monday, explained: “The product sales progress during the 2nd quarter was severely affected by the Covid-19 situation. In most markets, merchants experienced to be briefly shut and in the middle of April all-around eighty% of the group’s merchants ended up briefly shut. From the finish of April onwards the H&M team started gradually reopening merchants in a quantity of markets. Reopenings in each and every industry are in line with community restrictions”. 

It extra: “The pace of the product sales restoration may differ at a huge extent involving markets. At present approximately 900 merchants, symbolizing all-around 18% of the group’s five,058 merchants, are nonetheless briefly shut. Online product sales are open in 48 of the company’s 51 on line markets”.

H&M will publish its 6-thirty day period report on 26 June, providing an current summary as regards the Covid-19 situation.

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