×
69 898
Fashion Jobs
JCPENNEY
Asset Protection Associate - Ford City Shopg Ctr
Permanent · Chicago
JCPENNEY
Asset Protection Associate - Meadowood s/c
Permanent · Reno
JCPENNEY
Asset Protection Associate - Miami Intl Mall
Permanent · Miami
JCPENNEY
Sales Floor Supervisor - Newport Ctr
Permanent · Jersey City
JCPENNEY
Asset Protection Associate - Forest Village Park
Permanent · Forestville
JCPENNEY
Asset Protection Associate - Southcenter Mall
Permanent · Tukwila
JCPENNEY
Asset Protection Associate - Plaza Centro2 Mall
Permanent · Caguas
JCPENNEY
Sales Floor Supervisor - Westfarms Mall
Permanent · Farmington
JCPENNEY
Asset Protection Associate - Stonewood s/c
Permanent · Downey
JCPENNEY
Asset Protection Associate - Fairlane Town Center
Permanent · Dearborn
JCPENNEY
Asset Protection Associate - Woodland Hills Mall
Permanent · Tulsa
JCPENNEY
Sales Floor Supervisor - Holyoke Mall
Permanent · Holyoke
JCPENNEY
Sales Floor Supervisor - Coddingtown Ctr
Permanent · Santa Rosa
JCPENNEY
Asset Protection Associate - Tanforan s/c
Permanent · San Bruno
JCPENNEY
Asset Protection Associate - Fashion Square Mall
Permanent · Saginaw
JCPENNEY
Sales Floor Supervisor - Greece Ridge Ctr
Permanent · Greece
JCPENNEY
Sales Floor Supervisor - Woodbridge Ctr
Permanent · Woodbridge Township
JCPENNEY
Asset Protection Associate - Southland s/c
Permanent · Taylor
JCPENNEY
Asset Protection Associate - West Roads s/c
Permanent · Omaha
JCPENNEY
Asset Protection Associate - Dulles Town Ctr
Permanent · Sterling
JCPENNEY
Sales Floor Supervisor - South Shore Mall
Permanent · Bay Shore
JCPENNEY
Asset Protection Associate - Jefferson Mall
Permanent · Louisville
Published
Sep 17, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

H&M delivers pleasant surprise as Q3 sales beat predictions

Published
Sep 17, 2018

H&M has consistently disappointed in recent periods. But the Swedish fashion retail giant seems to have turned its fortunes around in the latest quarter with the company on Monday saying that it saw higher local-currency sales growth than anyone had expected for the third quarter of its financial year.


Reuters


Local-currency sales including VAT in the June to August period rose 4% from a year earlier, although analysts had expected a rise of less than 2%.

That's particularly interesting because some of its retail peers have reported that the very hot weather in many of its key markets during June, July and part of August had dented their sales.

But H&M seems to have made hay while the sun shone and it said that its reported sales excluding VAT were up a powerful 9% to SEK55.8 billion (£4.7 billion). While local-currency sales easily beat forecasts, so did these reported sales, with analysts having expected a rise of around 5.5%.

The company's explanation was that as a group, its “continuous transition, to face the major shift within the industry, has contributed to a gradually improved sales development and increased market share in many markets in the third quarter.”

That said, “sales and cost development in some of the group’s important markets such as the US, France, Italy and Belgium were in the third quarter considerably affected by the issues that emerged during the implementation of new logistics systems in the spring.” 

It didn't go into any more detail about the new logistics systems, which are designed to enable a faster and more efficient supply chain as well as continued integration of store and online.

Presumably we’ll learn more on September 27 when the company issues it nine-month report for the period up to August 31.

Copyright © 2023 FashionNetwork.com All rights reserved.