H&M reports healthy Q3 sales, says market share grew
today Sep 16, 2019
H&M released its Q3 sales figures on Monday and they looked healthy with a net sales rise of 12% to SEK62.57 billion (€5.88 billion) and a currency-neutral rise of 8%.
The company attributed the rise to “well-received summer collections” and also said that it increased market share, two factors that “confirm the H&M group is on the right track with its transformation work to meet the customers’ ever-increasing expectations." Activity levels related to that transformation work have remained high in the third quarter, it added.
Unfortunately, it didn’t have any more to say, apart from the fact that its full nine-month report will be published on October 3.
H&M rarely shares a lot of detail about its operations and especially about the performance of its individual chains.
But there’s no denying that being able to turn in any kind of sales increase in the current difficult environment in many of the countries that are crucial to its operations is impressive.
However, we don’t yet know whether the higher sales level was achieved at the expense of profits and whether markdowns will have dented the bottom line. We’ll just have to wait and see.
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