366
Fashion Jobs
SHISEIDO
FP&A Manager (Korean Only)
Permanent · SEOUL
AESOP
Aesop Hanam Starfield - Retail Consultant
Permanent · HANAM-SI
ADIDAS
Senior Specialist, Buying & Trading, E-Commerce
Permanent · SEOUL
ADIDAS
Manager, Personalization & Apps, E-Commerce
Permanent · SEOUL
ADIDAS
Senior Manager, Legal Counsel, Legal
Permanent · SEOUL
HENKEL
Finance Business Controller For Shiseido Professional Brand
Permanent ·
L'OREAL GROUP
[l'Oreal Korea] Kiehl's - CRM & Trade Mkt sr. Specialist~Manager
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] (jr.) Claim Substantiation Specialist - Corporate Regulatory Affairs
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] (sr.) Product Manager - Kerastase Marketing Team, Ppd
Permanent · SEOUL
UNDER ARMOUR
Associate, HR Administration
Permanent · SEOUL
ARKET
Visual Merchandising Manager
Permanent · BUSAN
PUIG
Marketing Manager
Permanent · SEOUL
JAEGER
[Jaeger Lecoultre] Marketing & Communication Director
Permanent · SEOUL
ESTÉE LAUDER COMPANIES
Corporate Account Executive For Travel Retail Korea, Estee Lauder Companies
Permanent ·
ESTÉE LAUDER - BRAND
Assistant Education Manager, Estee Lauder
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] Luxe Div. - Lancome E-Commerce Specialist
Permanent · SEOUL
COS
Instore Visual Merchandiser Manager_seoul/Gyeonggi
Permanent · SEOUL METROPOLITAN AREA
AESOP
Shinsegae Gwangju - Retail Consultant
Permanent · GWANGJU
COACH
Manager, Ecommerce
Permanent · SEOUL
ADIDAS
Manager, Business Planning & Analysis, Wholesales
Permanent · SEOUL
HENKEL
Adhesive Key Account Manager For Sports And Fashion Market
Permanent · BUSAN
HENKEL
Consumer Brands General Manager Assistant
Permanent ·
Published
Jun 15, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

H&M Q2 sales rise but store numbers rise faster

Published
Jun 15, 2018

Trading statements and results announcement are being closely watched at present as some global markets prove to be tough for fashion chains. So H&M was in the spotlight on Friday as it reported Q2 sales up 2%. 


H&M



While that looked good on the surface, we can’t ignore the fact that the company’s ongoing store opening programme means it was selling from over 6% more stores in the second quarter of this financial year than it was a year ago.

So to the figures. It said that sales including VAT in the three months to the end of May rose to SEK60.464 billion from SEK59.538 billion. Excluding VAT they were up to SEK51.983 billion from SEK 51.838 billion. In local currencies sales including VAT “were unchanged.”

The total number of stores in the group, whose banners are expanding as it adds new chains to the line-up, amounted to 4,801 as of May 31 compared to 4,498 this time last year.

So why was growth so weak? Well, we don’t actually know that as H&M was saying little. That’s in line with its strategy of saving its information sharing for its bigger results announcements. That means we may hear more on June 28 when it publishes its full six-month report and CEO Karl-Johan Persson hosts a press conference. 

But it seems clear that H&M has been suffering from many of the same issues as those that have beset both its weaker and stronger fashion retail peers.

Even Inditex reported slightly slower growth earlier this week and Ted Baker also turned in a physical stores performance that was slower.

The fact is that weather woes and exchange rate issues, as well as excessive consumer caution and a rapid move to e-shopping in certain key markets have played havoc with fashion retail of late and even the biggest, most powerful players in the market aren’t immune.

Copyright © 2024 FashionNetwork.com All rights reserved.