Find in the news:
BY COUNTRY

H&M lost profits by leaving Russia



The third quarter was strongly influenced by the decision to cease sales in Russia and the subsequent closure of the business.
H&M

The company Hennes&Mauritz (H&M) reported on sales in the third quarter. The profit of one of the largest fashion retailers decreased by 89%. The negative dynamics was largely due to the company's decision to leave the Russian market entirely.

"The third quarter was strongly influenced by the decision to cease sales in Russia and the subsequent closure of the business," commented Helena Helmerson, the company's CEO.

The company has decided to cut costs, which will save more than $180 million in the next quarter. The benefit of the new program should be reflected in the accounts for the second half of 2023.

H&M, which is second only to Inditex Group in terms of revenue, joined the long list of Western retailers who left the Russian market amid recent events in Ukraine. All of the chain's stores are now open again for a final sale. Officially, the cost of closing the business in Russia is estimated at about $85 million. Earlier the company also reported a decline in sales growth amid customers' desire to save money. H&M's main competitor Zara, on the contrary, increased sales in the third quarter by almost a quarter.

More about shopping malls in Russia



YESTERDAY, Singapore:
Gucci Beauty has made the new flagship as technologically advanced as possible.
DAY BEFORE YESTERDAY:
Fawaz Alhokair Group has announced plans to launch its own e-marketplace in the first half of 2023.
Dec 5, 2022, Spain:
The retail space is located on Don Juan de Austria street in downtown.
Dec 5, 2022, USA:
The renovation will create an incredibly special harbor experience.
Dec 2, 2022, China:
Next in the ranking are Zara and Zalando.
Dec 1, 2022, Italy:
LVMH has reached an agreement to acquire the jewelry company Pedemonte Group.
Friend
and Follow
Adigeo GLA:452 084 SF
ADDRESS: Verona city center
Italy . Verona
Adigeo
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga


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