Home Business News H&M Group reports increase in sales

H&M Group reports increase in sales

by LLB Reporter
27th Jun 19 2:49 pm

Fashion giant H&M has reported an increase in sales for the first half as they reduced their discounted items.

In the six months to 31 May sales rose by 11% to £9.2bn, with net sales up by 5% in local currencies.

Profits dropped by just over 4% to £593m as the retailer has invested in a new strategy. Net sales in June have been estimated to rose by 12%.

Chief executive Karl-Johan Persson said, “The H&M group continues to increase full-price sales, reduce markdowns and increase market share, showing that customers appreciate our collections and the improvements we are making to the product assortment and the customer experience.”

The company is expecting further sales growth due to their expansion programme.

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