SWEDEN: H&M sales bounce back in May
Swedish fashion retailer H&M Hennes & Mauritz today (15 June) booked a 3% rise in May sales at stores open more than a year, bouncing back after weather dampened demand for its spring fashions the month before.
The company, which operates 2,575 stores, said total group sales including VAT in local currencies increased by 12% compared to May last year.
The figures contributed to a 2% rise in sales in comparable units in the second quarter - which includes store, internet and catalogue sales in countries that have been in operation for at least a financial year.
Total sales including VAT in the three months to 31 May were up by 12% in local currencies. Quarterly sales amounted to SEK31.66bn (US$4.5bn), up from SEK27.63bn a year earlier.
May's results contrast with a 10% slump in H&M comparable sales in April - the first fall reported by the retailer since November last year and the biggest drop since August 2009.
From toxic T-shirts to virtual fitting rooms, defamatory garments and compostable shoes, the clothing and textiles industry in 2012 was anything but dull....
Textile-making countries came up against a range of labour, economic and environmental issues in 2012, including the worsening Eurozone crisis which dampened demand in key export markets. While some s...
Weak consumer spending, difficulties in securing credit, competition from China and the Far East resulted in factory closures and subsequent layoffs in 2012. But ramping up labour and sustainability s...
Faced with continuing challenging trading conditions in 2012, retailers responded with a number of different strategies to try to grow their businesses. International expansion, new and larger format ...
Levi Strauss, the world's largest jeans manufacturer, has pledged to phase out hazardous chemicals from its supply chain by 2020, following pressure from environmental group Greenpeace....
The most read stories on just-style this week include Delta Galil USA acquiring the LittleMissMatched brand, Sri Lankan apparel manufacturers facing continuing challenges, and Ethiopia's ongoing effor...
Harmit Singh is set to join jeans and clothing brand Levi Strauss & Co as executive vice president and CFO in January....
A group of US lawmakers is calling on President Barack Obama to take action in the wake of the recent fire in Bangladesh to ensure that clothing imported into the US - particularly products for the mi...
- The Flanarant: TPP – now the real fight starts
- Private label sourcing faces range of pressures
- Can Gap maintain its momentum minus Larsson?
- What clothing could the TPP X-basket contain?
- Where next for e-textiles and smart garments?
- Update: Negotiators agree landmark TPP trade deal
- H&M falling behind on Bangladesh factory safety?
- Nike debuts new fabric for adaptive breathability
- New CEO may focus on Ralph Lauren supply chain
- New Bangladesh labour rules draw union criticism
- Wearable technology: The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of lingerie - forecasts to 2020