Find in the news:
BY COUNTRY

Coronavirus Can Affect with H&M Recovery



H&M sales volumes for the first quarter of 2020 increased by 8%. However, the spread of coronavirus may prevent further growth.
H&M Group

In the first quarter of 2020, H&M Group's net sales increased immediately by 8 percent to $5.6 million. However, according to the company, one should not expect any particular growth in the second quarter due to the widespread of coronavirus, especially in China.

From December 1, 2019, to January 23, 2020, H&M sales in China increased by 27% in local currency compared to the same period last year. However, the demand for branded goods then fell significantly due to the rapid spread of the disease. As a result, the company had to close 334 out of 518 Chinese stores, and this led to a 24% drop in sales in the country.

In March, on the contrary, the situation in Europe began to harm sales. However, the situation in each country is changing rapidly, and it is still too early to draw any conclusions. The case will become clear only by April 3, when the company will present its next quarterly report.

Over the past few days, the H&M Group has announced that it has temporarily closed all stores in Italy, Poland, Spain, the Czech Republic, Bulgaria, Belgium, France, and parts of Greece. Stores will also soon be closed in Austria, Luxembourg, Bosnia, and Herzegovina, Slovenia, and Kazakhstan. At the same time, the company reports that sales in China have gradually started to recover.

The crisis has come at a difficult time for the fast-fashion giant. Years of effort to remedy a bad situation have just begun to bear fruit; for the first time since 2015, the company has become profitable again. The new problems in the face of the virus will be an additional hard test for the company.

More about shopping malls in China



Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Dec 21, 2023, Mexico:
Luxury French fashion house Zadig & Voltaire has unveiled its boutique in Mexico City.
Friend
and Follow
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
South Coast Plaza GLA:2 800 000 SF
ADDRESS: 3333 Bristol St, Costa Mesa, CA 92626
USA . Los Angeles
South Coast Plaza
Greenwood Park Mall GLA:1 164 000 SF
ADDRESS: 1251 US Highway 31 N, Greenwood, IN 46142-4514
USA . Greenwood
Greenwood Park Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us