Find in the news:
BY COUNTRY

H&M reports a more than 20% drop in sales



Due to lockdowns in various countries, more than 1,800 stores of the Swedish retailer were closed during the winter months.
H&M Group

H&M reports its results in a report summarizing its first fiscal quarter. At the end of February 2021, the retailer had a loss of about $160 million. The results for the same period last year were, by comparison, $290 million in profit. 

The main reason for the decline in income is said to be the negative impact of the pandemic. The company had to close more than a third of its stores due to the lockdowns worldwide, which amounts to more than 1800 retail outlets. Closing so many stores led to a 21% year-over-year drop in the retailer's sales to $4.58 billion. 

Despite the difficult situation in general, representatives of H&M are optimistic about the company's current position. Mentioned and positive examples of some countries, particularly Austria, where most of the stores remained open. China, where H&M operates more than 500 stores, was the only one of the top 10 markets to record sales growth in the first quarter. However, this situation in the Chinese market is not likely to continue. Analysts predict a drop in sales for the company in China because of H&M's comments about forced labor in the Xinjiang region.

According to Helena Helmersson, the group's chief executive, cited by the Financial Times, the company has significantly expanded its investment in digital platforms during the pandemic, so "we are now better able to reach customers where they want to meet us." Online sales have become a key growth area for the retailer amid a decline in physical store activity. Online sales were up 57% in the first quarter, compared with a year ago.

The company presented data summarizing its results on March 31, 2021. H&M shares fell 2% in morning trading in Stockholm the day after the financials were released.

More about shopping malls in Sweden



TODAY:
The acquisition is expected to finalize by the end of 2024.
YESTERDAY:
Ariana Grande has been announced as the latest ambassador for Swarovski.
DAY BEFORE YESTERDAY:
The brand unveiled two significant retail landmarks in Paris.
Jul 15, 2024, USA:
The luxury brand has recently unveiled its latest retail venture.
Jul 12, 2024, India:
Crocs has entered into a strategic partnership with Apparel Group India.
Jul 11, 2024, USA:
Italian luxury brand Brioni has expanded its presence in Texas with the opening of a new store in Houston.
Friend
and Follow
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Westfield Santa Anita ADDRESS: 400 S. Baldwin Ave. Arcadia, CA 91007
USA . Arcadia
Westfield Santa Anita
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet


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