H&M’s quarterly profits are always big news, but Thursday’s report was overshadowed by the announcement that the company has a new CEO. Helena Helmersson is taking over from long-time CEO Karl-Johan Persson.
Sustainability may be increasingly figuring in consumers' buying decisions, but some executives in the fashion retail industry are worried that the process of ‘eco-shaming’ could have negative consequences.
Barely a day goes by at the moment when we don’t news about resale and Thursday was no different. H&M said that it has increased its investment in ‘re-commerce’ platform Sellpy and is now its majority owner.
H&M’s sales may have grown in Q2 but it has reported a small drop in its pre-tax profit. However, encouragingly, the company said its summer collections are selling well and June sales in local currencies are up 12%.
H&M’s net profits fell in Q1 but the drop wasn’t as big as analysts had been predicting and with its sales rising during the period and other good news, the general consensus was that it's managing its turnaround well.