Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • H&M delivers pleasant surprise as Q3 sales beat predictions

H&M delivers pleasant surprise as Q3 sales beat predictions

  • Categories Retail News
  • Date September 18, 2018
  • Comments 0 comment

H&M has consistently disappointed in recent periods. 

But the Swedish fashion retail giant seems to have turned its fortunes around in the latest quarter with the company on Monday saying that it saw higher local-currency sales growth than anyone had expected for the third quarter of its financial year.

Local-currency sales including VAT in the June to August period rose 4% from a year earlier, although analysts had expected a rise of less than 2%.That’s particularly interesting because some of its retail peers have reported that the very hot weather in many of its key markets during June, July and part of August had dented their sales.But H&M seems to have made hay while the sun shone and it said that its reported sales excluding VAT were up a powerful 9% to SEK55.8 billion (£4.7 billion). 

While local-currency sales easily beat forecasts, so did these reported sales, with analysts having expected a rise of around 5.5%.The company’s explanation was that as a group, its “continuous transition, to face the major shift within the industry, has contributed to a gradually improved sales development and increased market share in many markets in the third quarter.”That said, “sales and cost development in some of the group’s important markets such as the US, France, Italy and Belgium were in the third quarter considerably affected by the issues that emerged during the implementation of new logistics systems in the spring.” 

It didn’t go into any more detail about the new logistics systems, which are designed to enable a faster and more efficient supply chain as well as continued integration of store and online.Presumably we’ll learn more on September 27 when the company issues it nine-month report for the period up to August 31.

  • Share:
gsiino

Previous post

Alibaba is helping Russia go big in online shopping
September 18, 2018

Next post

Balmain opens new Las Vegas and Miami stores
September 19, 2018

You may also like

Private-LAbels-fashion-luxury
Private labels: the future of luxury department stores?
6 March, 2023
EUROSHOP_2023_WEB-1200×857
Euroshop 2023! Top 75 Specialists & Key Highlights
4 March, 2023
Euroshop-Award
EuroShop RetailDesign Award 2023: Jury of experts honours the best store concepts
27 February, 2023

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Celine Shop-In-Shop Opening – Paris
15Mar2023
Private labels: the future of luxury department stores?
06Mar2023
Euroshop 2023! Top 75 Specialists & Key Highlights
04Mar2023
TOTEME Shop-in-shop in Seoul
03Mar2023
Y-3 opens its first ever store Down Under
03Mar2023

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy