H&M Group had lots of news this week with the firm’s CEO taking part in the Fashion Future conference, its Monki brand joining the Zalora platform, and the launch of its most recycled denim collection yet.
Global Fashion Group saw a strong Q1 as it attracted more customers to its websites and enjoyed a solid recovery in repeat customers. It also attracted more brands and marketplace net merchandise value almost doubled.
H&M reported its Q1 results on Wednesday and swung to a loss, but it said sales are recovering in March. Yet perhaps even more newsworthy was its ongoing effort to overcome its problems in China and “regain trust” there.
Global Fashion Group released preliminary Q2 figures on Friday and said that it expects the period to be its second profitable quarter on an adjusted EBITDA basis, as well as its first cash flow-positive three months.