Close-up A combined view of the lighted red H & M logo in front of the presentation of women’s summer dresses and casual clothes in a retail store.
Cheng Xin | Getty Images News | Getti images
Swedish giant of clothing H & M On Thursday, he pointed to auntack in demand for the beginning of the summer season, sending shares more.
The second largest clothing seller in the world said that sales in June were seen that 3% in local currencies in accordance with slow at the beginning of the year.
The actions were 4.4% to 14:00 London times, a slightly parent earnest gain.
The company, whose brands also include COS, Arket and Day Day, nevertheless noticed the feeling of caution among consumers in current “uncertain times”, noting that customers are “especially sensitive” especially sensitive to “.
He did not provide certain details on the influence of American trading tariffs, but said that “carefully monitored the development of events” and consideration of improvement prices to compensate for additional costs.
“We start not to see some competitors that increase prices and it is something that is of course to ensure that we remain competitive,” said General Manager Daniel Erver.
H & M counts now as our second largest single market and greatly depends on production in Asia, on which China and Bangladesh are mostly known.
“Now they are important for us and will continue to be,” Erver said, noting that the impact of tariffs will become clearer in July, once 90-day Left Pause Expires.
“With good flexibility in the supply chain and through prices of customer supply, there are opportunities to adapt business to change conditions,” the company added a statement in accompaniment of results.
It comes as H & M expressed sales of expected from in the fiscal second quarter.
Retail income at homeman at 56.71 billion Swedish Krona (5.99 billion dollars) in a quarterly period until May. 31, slightly below 57.01 billion Swedish Krona forecasts by LSEG analyst. In local currencies, sales increased by 1%.
Operating profit amounted to 5.9 billion Swedish rigid in the quarter, in line with expectations, but in the year of the year.
The company announced that the results of a quarter “negatively affected” are more than a more expensive US dollar purchase.
H & M.
“Negative external factors that increased the purchase costs for the first half of the year positively pretended to the second half,” Erver said in the statement.
He also marked 200 store shutters scheduled for 2025. Year, primarily in established markets, and 80 new openings largely, greatly in growth markets.
The fashion seller has previously reported a slow start in the yearBut pointed to the annual uptrick on sale in March.
H & M faced several consecutive quarters of soft sales, because it was struggling to close the width gap Rival owned by Inditeks Zara and violated the increased competition of retail lower costs, such as shiin and theme.
American tariffs and weak consumer confidence, however, became a retreat for retail sector wide, with an investiture earlier this month setup Less Trimester Sales from Expected And the slower start of the flight in the middle of a wide economic uncertainty.
Retail and consumer goods appeared as the most severe sector in Europe, according to the company Law Company Veil, Gotshal & Manges LLP, who cited narrow credit conditions, cost inflation and consumers among the pressure in the industry.
