H&M Group sales rise 12% in latest quarter
H&M
That was a good inflation-beating figure for the world’s second-largest fashion retailer.
Admittedly, in local currencies the rise was only 3%, but excluding Russia, Belarus and Ukraine, the increase was 16% in total and 7% in local currencies.
Coming on the same day as the world’s biggest fashion retailer — Inditex
But given that analysts had expected an 11% rise rather than the 12% it managed, and that H&M has faced major challenges in recent periods, its numbers did show clear signs of progress.
Its challenges have included rises in shipping costs that have hit it harder than Inditex as the latter sources more of its products closer to home. And the company has absorbed some of these costs rather than passing them all on to consumers.
As is usual with H&M — which also owns the Cos, ArketMonkiWeekday
