Money Buzz! Europa

Tag: H&M

  • H&M sales rose in the first half of this month, after stores reopening

    H&M sales rose in the first half of this month, after stores reopening

    H&M sales rose in the first half of this month, after COVID-19 restrictions eased in some markets, allowing the reopening of stores.

    Net sales fell 27%, or 21% in local currency, to SEK 40.1 billion ($ 4.72 billion).

    Analysts expected a 30% decline in sales between December 2020 and February 2021, H&M’s first fiscal quarter.

    Local currency sales rose 10% in the first half of this month amid store reopening, including the company’s largest market, Germany.

    As of March 13, about 900 of the approximately 5,000 H&M stores were closed due to restrictions.

  • 100 million people joined H&M Member loyalty program

    100 million people joined H&M Member loyalty program

    H&M announced that more than 100 million fashion fans have joined the customer loyalty program H&M Member.

    H&M Members are invited to offers and services, digital and physical events, fashion shows, pre-shopping, collaborations, digital receipts, omni-credit and much more.

    The loyalty program is entirely digital and free to use.

    H&M Member currently covers 26 markets after recent rollouts in India, South Korea and Australia.

    The company also introduced the membership on Wechat and Tmall in China, and now Kakao in Korea.

  • H&M customers in Sweden can transform unwanted garments into new fashion favourites

    H&M customers in Sweden can transform unwanted garments into new fashion favourites

    H&M customers in Sweden have the possibility to transform unwanted garments into new fashion favourites with the help from a new garment-to-garment recycling system, Looop.

    Looop opens to the public in one of H&M Drottninggatan stores in Stockholm on October 12. This is the first time this garment-to-garment recycling system is shown in store by a fashion retailer.

    Looop uses a technique that dissembles and assembles old garments into new ones. The garments are cleaned, shredded into fibres and spun into new yarn which is then knitted into new fashion finds.

    The system uses no water and no chemicals.

    The cost is 100 Swedish kronor (around 10 euros) for members of H&M loyalty club. For non-members the fee is 150 Swedish kronor (around 15 euros). 

  • H&M to close 250 stores next year, after the increase of online shopping

    H&M to close 250 stores next year, after the increase of online shopping

    H&M plans to close hundreds of stores next year after the coronavirus pandemic led to an increase online shopping, DPA and Reuters reported.

    H&M had 5.043 stores on August 31, in 74 markets, including franchises, worldwide.

    The Swedish company announced that it will reduce the number of stores by 250 in 2021, representing 5% of its current network. H&M also reported that sales continued to recover in September following the impact of the pandemic.

    On the Stockholm Stock Exchange, H&M shares were up 6% on Thursday.

    H&M financial results in Q2 2020

    Between June and August 2020, pre-tax profit fell to SEK 2.37 billion ($ 265.6 million) from SEK 5.01 billion a year ago.

    H&M local currency sales also fell by 5% in September, after declining by 19% between June and August 2020.

    Net profit halved in June-August 2020 to SEK 1.8 billion ($ 201 million) from SEK 3.8 billion a year ago. Quarterly sales fell to SEK 50.8 billion, while online local currency sales rose by more than a quarter.

    Sales fell in all major H&M markets, from 34% in the US to 16% in China and 10% in Germany.

    The Swedish group has seven brands: H&M, COS & Other Stories, Monki, Weekday, Arket and H&M Home.

  • H&M, collection inspired by a nineteenth-century writer Violet Paget

    H&M, collection inspired by a nineteenth-century writer Violet Paget

    H&M presents its Studio AW20 collection, ”The Refined Rebel”, inspired by those whose style is as daring as their attitude.

    The collection takes cues from the brave nineteenth-century writer Violet Paget (pen name Vernon Lee) and her residency in palatial Florence, and encapsulates her radically fearless style.

    The H&M Studio AW20 campaign will break from tradition by inviting Studio muses, Barbie Ferreira, Veronika Heilbrunner, Celeste, Alton Mason, Young Emperors and Mia Kong to co-create the campaign from their corners of the globe.

    Each talent will capture their unique interpretations of the collection; their style and individuality taking centre stage.

    Campaign has an exclusive social media filter

    The campaign’s exclusive social media filter hopes to encourage H&M’s audience to get involved.

    Customers are invited to share their personal styling of the collection, just as the campaign’s talents will be. Giphy stickers hope to inspire playful customisation too.

    The collection will be available at hm.com from 24th September.

  • H&M, collaboration with the luxury Italian brand Giuliva Heritage

    H&M, collaboration with the luxury Italian brand Giuliva Heritage

    H&M announces a collaboration with the luxury Italian brand Giuliva Heritage. Family-owned Giuliva Heritage take classic menswear silhouettes into the world of womenswear.

    Margherita Cardelli and husband Gerardo Cavaliere, Giuliva Heritage’s founders, are passionate about long lasting fashion in great fabrics.

    Together with H&M, the couple created a modern take on Italian heritage with a collection made from materials from more sustainable sources. Recycled fabrics have been used throughout.

    The collection will be available in selected stores worldwide, as well as on hm.com, from the 3rd of September.

    “It was wonderful to work with H&M on this collection. Together, we created easy transitional pieces with designs that stand the test of time. We were especially delighted to use recycled materials with every look”, Gerardo Cavaliere and Margherita Cardelli Cavaliere.

  • H&M will have around 40 stores less at the end of 2020

    H&M will have around 40 stores less at the end of 2020

    H&M net sales decreased by 23% to SEK 83,612 m (108,489) in the first half-year. In local currencies, net sales decreased by 24%.

    Profit after financial items amounted to SEK -3,978 m. The group’s profit after tax amounted to SEK -3,063 m, corresponding to SEK -1.85 per share.

    From 1 March since 31 May online sales increased by 36% in SEK and 32% in local currencies.

    7% of H&M stores are still closed

    From June 1st to date sales decreased by 25% in local currencies compared to the same period the previous year.

    Currently 350 stores, representing 7% of the total number of stores, are still closed. A large number of stores still have local restrictions and limited opening hours.

    A total of 48 of the group’s 51 online markets are open.

    More store closures, less store openings

    For 2020 the pace of closures is being increased and the number of openings reduced compared with what was previously planned.

    Around 170 closures and around 130 openings are planned, resulting in a net decrease in the number of stores of around 40.