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H&M posts underwhelming results

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
World-renowned fashion brands lost more than 50% of sales during the pandemic.

One of the biggest fashion retailers and fast-fashion creators, H&M, released today its earnings report. Soon after the pandemic started the store’s sales fell by 50%.

Between March and May, the sales fell by 50%, even though some stores were still open. Since the beginning of the month until past Friday, the total sales decreased by 30% compared to the same time last year. 

Online sales managed to compensate for the closing of physical stores, as they increased by 36%.

The data comes as the UK stores reopen in the UK. H&M started to resume its store activity since the end of April, and until now, only 900 are still closed. 

During today’s trading session, the stock price fell by 0.31%.

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.