H&M

Danish retailer Bestseller is laying off 750 people, Swedish giant H&M fears it will have to cut tens of thousands of jobs due to the coronavirus crisis.

Despite the coronavirus crisis, H&M recorded an increase in sales in the first quarter of the current fiscal year. In the second quarter, however, the fashion retailer expects to be heavily impacted by the spread of the virus throughout Europe.

Swedish fashion chain H&M has become the focus of an investigation by the privacy watchdog in the German state of Hamburg, citing evidence that the chain was spying on its customer service representatives. If convicted, the maximum fine can be as high as 4 % of H&M's global turnover.

H&M plans to open a store in Panama before the end of the year: it will be the first country in Central America to welcome the Swedish fashion giant.

Days after Tesco stopped the production of Christmas cards that were revealed to be made by Chinese forced labourers, H&M will now investigate whether there is forced labour by Chinese prisoners in its supply chain. The accusations come from former journalist Peter Humphrey, who was locked up in such a prison for almost two years.

Swedish fashion retailer H&M managed to increase its revenue by 9 % in the fourth quarter of its financial year. The strong investments that have been made in recent years, in order to adapt to the changing market, seem to be bearing fruit.

Australians are buying fewer Christmas gifts this year, and opting for more useful and inclusive gifts. Here, too, 'more sustainable' gifts for the end of the year period are a growing trend, because things have reached their peak.