H&M: the collapse of sales continues
The Swedish company is disappointing with profit expectations for the first quarter of 2018
Fashion
March 15th, 2018
March 15th, 2018
H&M continues its negative trend.
Once again, the sales of the Swedish giant disappointed expectations and, in the first quarter of 2018, rose from 47 billion Swedish kroner in the same period last year to 46.3 billion.
The company thus confirms the sudden downsizing of the volume of business recorded from September to November 2017, mainly caused by a decline in in-store consumers.
To combat these insufficient data, H&M announced that it intends to implement an internal transformation plan, integrating physical and digital stores better.
A strategy similar to the one that Zara has decided to adopt its great rival Inditex, owner of Zara, which however obtained a 7% profit increase in its fiscal year up to January and sales increased by 9% in the first five weeks of its new financial year.
