Fashion
Yesterday, H&M Group announced that their budget fashion chain, H&M, which represents the majority of Group sales, will trial selling external brands and products. A major change of strategy.
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In the third quarter, H&M Group recorded a 12% increase in sales. Taking into account constant exchange rates, the increase was 8%. And it was all thanks to a good summer.
Property
Swedish fashion chain H&M is on a mission to demand contracts with variable rents, which can go up or down depending on the store's turnover. However, the chain wants to deduct returns in that store, angering real estate owners.
Soon, shoppers at H&M stores will no longer have to pay right away: they can wait for up to two weeks after the purchase. The trend, which comes from the e-commerce world, looks set to conquer physical retail as well.
For the eighth quarter in a row, Swedish fashion chain H&M is reporting a decreasing profit, despite having achieved turnover growth. Management is now forced to take measures: there will be far fewer new stores than originally planned.
Six years after the Rana Plaza disaster in Bangladesh, working conditions for textile workers are still sub-par, the university of Sheffield concludes in a new report. Some major chains perform way better than others.
Swedish fashion chain H&M will reintroduce delivery costs for small orders, even to membership card holders. This way, the company hopes to save on logistical expenses and repair the group's profitability.
The Clean Clothes Campaign has lost a remarkable vote at the shareholder meeting of apparel chain H&M. The idea was for shareholders to contribute to the payment of living wages for textile workers.
Six years after the collapse of the textile factories in Rana Plaza, in Bangladesh' capital Dhaka, NGOs demand renewed attention for working conditions in low-wage countries. H&M leads the way, giving information about the production of each separate item of clothing.
H&M is about to begin the sale of second-hand items: the fashion group will launch this new project on the Swedish website of subsidiary & Other Stories. Other brands and countries will follow.
Some good news for H&M: the first quarter of 2019 saw far better profit results than expected. Margins are increasing again, as the Swedish fashion giant is no longer forced to offer so many discounts.
By 2030, H&M only wants to be working with sustainable fabrics. For that reason, they've already dropped cashmere and 95% of their cotton is recycled or sustainable.
Net profit at Swedish group H&M has gone down by 21.8 % in 2018: "due to logistical expenses", the chain says. Nevertheless, the investments seem to be fruitful as turnover has already increased by 5.2 %.
H&M has hired Christopher Wylie, the whistle blower in the scandal surrounding Cambridge Analytica, in an attempt to better get to know their customers.
H&M is pulling the plug on Nyden, a Los Angeles-based subsidiary brand that was created to appeal to young people by working with influencers and celebrities. The brand barely lasted for a year. Meanwhile, the group is investing in innovative store concepts.
Swedish fashion chain H&M has released a stellar report for the past quarter, but despite its record growth the group is punished by the stock market, which believes H&M's discounts are not sustainable.
