H&M has reported a slight increase in net sales for the June-to-September period, saying its efforts to respond faster to fashion trends and focus on value are delivering results. The company, which also owns brands including Cos, Weekday and & Other Stories, said net sales rose to 57.2 billion Swedish krona (£4.4 billion), up 1% compared with the same period last year.
The result marks a return to growth after sales declined by 3% over the first half of the financial year.
Chief executive highlights further potential
Chief executive Daniel Erver said sales had “developed in a positive direction” in the last quarter and that he sees “further potential to increase sales going forward”. He said the retailer was “increasing the proportion of in-season purchasing to more quickly meet customers’ demand for fashion and quality at the best price”.
“At a time when consumers are affected by high living costs, we are gradually strengthening our customer offering through attractive and inspiring products, shopping experiences and brands,” he added.
AI and supply chain initiatives
Erver said “initiatives in the supply chain, greater support from AI and committed employees allow us to increase relevance and precision throughout the business – which will help deliver even greater value for our customers”.
H&M also warned that cold weather has delayed demand for spring ranges in many of its markets.
