H&M posts underwhelming results

By: Miguel A. Rodriguez

09:45, 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%.

Stay in the loop by accessing the latest news! See now on Capex.com!

Sources: marketwatch.com, essentialretail.com.

Share this article

The information presented herein is prepared by CAPEX.com/eu and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.