H&M’s Q3 revenue growth was dampened by a need to offer more discounts, the Swedish fashion retail giant said Friday, although it also added that the cloud had a silver lining as its AW inventory is much cleaner.
H&M has just filed its UK results for the year to November 30 2016 and the figures confirm how tough fashion retailers had it last year with sales and profits broadly flat despite more stores in its third biggest market.
The first British location for the H&M-owned store is set to open its doors on the 18 August. The opening is the beginning of Weekday's British expansion, with another store planned for autumn/ winter 2017.
H&M had plenty to talk about Thursday as it reported higher H1 sales, some markets that were good and others that were challenging, plus e-sales powering ahead and strength in its expanding other brands.