Fashion / Financial / h&m

H&M Q1 Sales Rise 4% In Local Currencies

Posted On: Mar 15, 2019   |   Posted By: WWD

PARIS- Hennes & Mauritz AB on Friday reported a 4 percent rise in first-quarter sales in local currencies, casting further light on the fast fashion retailer's performance during the challenging holiday period.
For the Dec. 1 to Feb. 28 period, the Swedish fast-fashion retailer, which is undergoing a company-wide revamp to improve online services, reported sales of 51.01 billion Swedish kronor, or $5.49 billion, a 10 percent rise, with a positive currency rate effect.
Spanish rival Inditex, owner of Zara, reported a 7 percent increase in local currencies between Feb. 1 and March 9, and is projecting sales growth for the year of between 4 percent and 6 percent.
Inditex has pushed ahead of rivals in the digital sphere, implementing high-tech sales and logistics systems, and opted out of the end-of-year price-slashing that swept much of the industry. The company is instead focusing on margins and keeping tight control over inventories, while it integrates stores with its online business.
H&M has in recent...

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