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



DAY BEFORE YESTERDAY, Germany:
KaDeWe filed for insolvency at the end of January due to issues within Signa Group.
Apr 12, 2024, USA:
The Meeting Place spans approximately 256,000 square feet and includes Saluhall along with other offerings like Hej!Workshop.
Apr 11, 2024, China:
Lacoste has emerged victorious in its trademark infringement lawsuit against the Chinese brand Cartelo.
Apr 10, 2024, USA:
Coach has lodged a trademark infringement complaint against Gap Inc.
Apr 9, 2024, USA:
Retailer is set to expand its presence in the United States by opening stores in Texas and California.
Apr 5, 2024, Israel:
McDonald's reiterated its commitment to the Israeli market and ensuring favorable conditions for employees and customers.
Friend
and Follow
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Mall of Georgia GLA:1 786 000 SF
ADDRESS: 3333 Buford Dr, Buford, GA 30519-4913
USA . Buford
Mall of Georgia
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia


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