H & M bounces when the blockade becomes easier and the store reopens
H & M bounces when the blockade is eased: sales grow as the world’s second-largest clothing retailer reopens hundreds more
H & M sales increased in the first half of March as coronavirus restrictions began to be relaxed across Europe.
The world’s second-largest clothing retailer has reopened hundreds more stores, including Germany, its largest market.
According to H & M, sales increased by 10% from March 1st to 13th, but 900 of the 5,000 stores remained closed, 300 of which could be reopened from April 12th.
Sales: H & M, the world’s second-largest clothing retailer, has reopened hundreds more stores, including Germany, its largest market.
It followed a slump in business during the winter as the blockade made their sacrifice.
Acquisitions for the three months to the end of February were down 27% from £ 3.4bn in the year-ago quarter.
But this was slightly better than the 30% decline predicted by analysts, thanks to “strong” online trading.
Richard Chamberlain, an analyst at investment group RBC, said:
Market leader Inditex said last week that sales would recover once the blockade was lifted.
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H & M bounces when the blockade becomes easier and the store reopens
https://www.dailymail.co.uk/money/markets/article-9365313/H-M-bounces-lockdowns-ease-stores-reopen.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 H & M bounces when the blockade becomes easier and the store reopens
