THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Profits at H&M fall less than expected

H&M, the Swedish fashion retailer, has reported a less than expected 15% fall in its third quarter profits as it fought against the effects of a strong Swedish currency and poor summer weather on sales.

GENERAL MERCHANDISE

Profits at H&M fall less than expected

H&M, the Swedish fashion retailer, has reported a less than expected 15% fall in its third quarter profits as it fought against the effects of a strong Swedish currency and poor summer weather on sales.

Net profit for the three months to 31 August was 3.59 billion kronor down from 4.24 billion kronor in the same period a year earlier.

Total sales for the quarter reached 26.91 billion kronor from 26.89 billion kronor a year earlier.

The retailer has been struggling against higher cotton prices and increased labour costs in Asia where it manufactures 75% of its clothing.

H&M said it planned to open more stores than orginally planned in the coming year. President and chief executive Karl-Johan Persson said: "H&M continues to gain market share in a challenging environment for the fashion-retail industry. We are increasing our expansion for full-year 2011 to approximately 265 new stores net, from the originally planned 250." 

H&M currently has a total 2,325 stores worldwide.

The retailer is planning to launch a collection by Donatella Versace later this year.  

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process