H&M group’s second-quarter sales slump

On the internet income greater by 36% in SEK and 32% in local currencies in the course of the similar interval.

The group’s whole income amongst one and thirteen June decreased by thirty% in local currencies, in contrast with the similar interval in 2019.

H&M group, which owns & Other Tales, Arket, H&M, Cos, Weekday, Monki, and Cheap Monday, mentioned: “The income development in the course of the next quarter was severely afflicted by the Covid-19 circumstance. In most marketplaces, retailers had to be briefly shut and in the center of April all around eighty% of the group’s retailers were being briefly shut. From the finish of April onwards the H&M group started out progressively reopening retailers in a number of marketplaces. Reopenings in just about every sector are in line with local restrictions”.

It included: “The rate of the income restoration differs at a huge extent amongst marketplaces. At existing around 900 retailers, symbolizing all around 18% of the group’s five,058 retailers, are even now briefly shut. On the internet income are open up in 48 of the company’s 51 on the web markets”.

H&M will publish its 6-month report on 26 June, providing an current summary as regards the Covid-19 circumstance.