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H&M posts Q1 profit, sales increase by 12 percent

In the first quarter the H&M group’s net sales in SEK increased by 12 percent to 54,872 million Swedish krona. In local currencies the increase was 3 percent. Excluding Russia, Belarus and Ukraine, the company said, the increase was 16 percent in SEK and 7 percent in local currencies. Operating profit amounted to 725 million Swedish krona...

Mar 30, 2023

Fashion

H&M extends size options for US market

H&M US has announced the extension of its size assortment on the national market. Products ranging up to 2XL will be offered in stores for women and men, while the online shop will even offer sizes up to 4XL. With the aim to be more inclusive for the plus-size community and to offer an accurate assortment of diverse fits and sizes, the retailer...

Mar 29, 2023

Fashion Featured

H&M unveils first look from Mugler collaboration launching in May

H&M has unveiled the first look from its upcoming collaboration with the House of Mugler and confirmed that the collection designed by Mugler’s creative director Casey Cadwallader will launch on May 11. Last month, the Swedish fashion chain confirmed that Mugler would be its next designer collaboration, following in the footsteps of Versace,...

Mar 28, 2023

Business

H&M US to launch second hand service with ThredUp

Fashion retailer H&M US announced it has teamed up with ThredUp to launch its first resale scheme for the US market called “H&M Pre-Loved”. Via ThredUp’s Resale-as-a-Service (RaaS) program, the brand further pushes its efforts to establish circularity for itself and its customers by offering them easy access to second hand pieces that are still...

Mar 15, 2023

Report

H&M posts sales increase of 12 percent

Net sales at H&M Group increased by 12 percent to 54,872 million Swedish krona in the first quarter, compared with the corresponding period last year. In local currencies, the company said, net sales increased by 3 percent. Excluding Russia, Belarus and Ukraine the increase was 16 percent in Swedish krona and 7 percent in local currencies. The...

Mar 15, 2023

Fashion Featured

PETA pressures H&M to reveal down suppliers

H&M has come under scrutiny for where it sources down from, used primarily for products like puffer jackets and outerwear. The need for transparency comes as PETA Asia recently led an investigation which saw a down supplier in Vietnam not adhering to international animal welfare regulations. PETA uncovered cruelty and suffering caused to ducks...

Mar 10, 2023

BusinessFeatured

Ganni, Reformation, and Patagonia join Rubi pilot to decarbonise fashion

California start-up Rubi, which is pioneering carbon-negative cellulosic textiles, has secured an additional 8.7 million US dollars in funding and announced it has signed up fashion brands Ganni, Reformation, H&M, Patagonia and rental platform Nuuly to its initial strategic pilot project. The latest round of funding was led by Talis Capital,...

Mar 2, 2023

Fashion Featured

H&M’s next designer collaboration is with Mugler

Swedish fashion chain H&M has confirmed that its next designer collaboration will be with the House of Mugler, launching in spring. In a short statement, H&M said that the Mugler H&M collection would be crafted under the direction of Mugler’s creative director Casey Cadwallader and will “encapsulate the unique and vibrant spirit of Mugler”....

Feb 22, 2023

Business

H&M Group establishes joint venture to drive used textile sorting

H&M Group has announced a new joint venture with Remondis through the launch of a circular textile initiative, Looper Textile Co. The duo will own equal parts of the organisation, with H&M hoping to participate “more directly” in the development of circular fashion infrastructure, a press release stated. Meanwhile, the launch further builds on...

Feb 16, 2023

Retail

H&M confirms four more UK store closures

H&M has confirmed media reports that it is closing a further four of its stores in the UK as part of a wider reorganisation of its physical estate. The Swedish fashion giant launched a cost-cutting programme last year which would result in 1,500 job losses globally. Responding to media reports that the company will close stores in Burton,...

Feb 1, 2023

Business

Fashion for Good sorting for circularity advances into the US market

Today, Fashion for Good launches the Sorting for Circularity USA Project, a new initiative focused on the North-American textile-to-textile recycling market that will provide the most representative snapshot of textile waste composition generated in the United States. This effort is crucial to understanding and evaluating the business case for...

Jan 31, 2023

ManagementFeatured

H&M posts drop in operating profit, Q2 sales up 10 percent

H&M’s fourth quarter net sales increased by 10 percent to 62,433 million Swedish krona, while in local currencies, net sales were flat. Excluding Russia, Belarus and Ukraine the increase was 11 percent in SEK and 2 percent in local currencies. Net sales in SEK increased by 12 percent in the 2022 financial year to 223,553 million Swedish krona,...

Jan 27, 2023