H&M sales ‘fall short’ of estimates

Sales at H&M have declined more than predicted over the past three months due to the cost-of-living crisis.

In the retailer’s latest financial results, it said that net sales decreased in local currencies by four per cent.

Analysts had expected a drop of 1.4 per cent, according to a report by The Independent.

H&M said that the third quarter had got off to a weak start, but sales picked up during the quarter with the launch of the autumn collection.

The news comes as the owner of Zara, Inditex, announced a 29 per cent increase in sales over the past six months.

Earlier this year, H&M withdrew its business from Russia, resulting in costs of around £160 million.

    Share Story:

Recent Stories

Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.