Hennes&mauritz ab news and archive

H&M reports Q2 loss, H1 turnover drops by 23 percent

Net sales at Hennes & Mauritz AB (H&M) decreased by 50 percent to 28,664 million Swedish krona (3,070.5 million dollars) in the second quarter. Also in local currencies, net sales decreased by 50 percent. Net sales in the six-month period decreased by 23 percent to 83,612 million Swedish krona (8,956.8 million dollars), while in local currencies...

Business

COVID-19 impact: H&M scraps dividend, warns it may cut thousands of jobs

Hennes & Mauritz AB has announced through a statement that due to the rapid spread of the coronavirus and its impact on the business, the company is reviewing the situation market by market based on local conditions. H&M said, dialogue about temporary layoffs has been initiated in a number of markets and will be followed by further temporary...

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A first quarter to forget: Hennes & Mauritz AB's shares down to 13-year low

Hennes & Mauritz AB H&M has just closed a first quarter to forget about, marking the Swedish apparel retailer’s lowest first-quarter’s profits – down 62 percent to 150 million dollars - in over 13 years. An excessive increase of stock, aggressive markdowns, and tight competition have dragged H&M’s parent group well below their revised forecast...