H&M

The European Union (EU) and its member countries have stepped up their engagement with India, in the face of punitive tariffs being imposed against New Delhi by the United States (US)

H&M is launching its beauty line in India on October 2 with 200 products across make-up, fragrances, and beauty tools as it marks 10 years of operations in India

H&M is monitoring and preparing for tariffs, though these are a moving target given the uncertainty over which countries Trump's announcement will target next week, Erver said

Bangladesh, alongside China, is the largest production market for clothing for the group

Sales this month are likely to fall 6% in local currencies versus a year earlier, partly due to poor weather in many markets, the Swedish company said

Several companies shut their doors in Ukraine as well as Russia two years ago but many of them are now returning

H&M's top executive unexpectedly stepped down on Wednesday and the company's stock plunged as the fashion giant reported a drop in sales over the holiday shopping season. Helena Helmersson resigned after four years as CEO and 26 years at the company, saying she was proud of the work done over the past few years, including navigating the COVID-19 pandemic, but that it has been very demanding at times for me personally. She was replaced by Daniel Ervr, who was in charge of the H&M brand and has worked for the Swedish clothing retailer for 18 years. "Our focus will be on offering our customers the best combination of fashion, quality, price and sustainability in an inspiring and attractive shopping environment, Ervr said in a statement. H&M shares fell as much as 11 per cent after the announcement and news that its latest earnings missed analyst expectations. For the last three months of 2023, operating profit margin fell to 7.2 per cent from 7.8 per cent in the previous ...

H&M's fourth-quarter operating profit margin fell to 7.2 per cent from 7.8 per cent in the third quarter

The company will carry out the layoffs for unspecified organizational, productive and economic reasons, unions CCOO and UGT said in a joint statement

H&M has been losing ground to Zara owner Inditex, which on Wednesday reported a 15% rise in local-currency sales for the nine months through October, and a 14% rise for the following six weeks

Bangladesh's garment workers earn $95 a month as minimum wage and are demanding a minimum wage of $208 a month

Other brands continuing to source from Myanmar have also ramped up monitoring of suppliers through field offices enabling them to conduct their own inspections instead of relying on external audits

Low-cost fashion brand H&M said Wednesday that it will be reducing its global workforce by around 1,500 positions as part of a plan to reduce costs and further improve efficiency. The Sweden-based company said a restructuring charge of 800 million kronor ($76 million) will be booked in the last three months of the year. The staff reduction is estimated to provide annual savings of about 2 billion kronor ($190 million). CEO Helena Helmersson said H&M was very mindful of the fact that colleagues will be affected by this. We will support our colleagues in finding the best possible solution for their next step. H&M was founded in Sweden in 1947. Besides the clothing retailer, the group includes brands like COS, Monki, Weekday, Cheap Monday, & Other Stories, H&M Home, ARKET and Afound. It counts about 4,664 stores in 77 markets and has 57 online markets.

H&M AB decided to start winding down its operations in Russia, having halted all sales in the country in March after Russia's attack on Ukraine

Pretax profit at world's second-biggest fashion retailer jumped 33% from a year earlier to 4.78 bn crowns ($471 mn) in the Swedish group's second quarter, on sales growth of 12% in local currencies

H&M earlier this month temporarily closed its stores in Russia, which last quarter accounted for 4% of group sales

H&M said sales in local currencies matched pre-pandemic levels from September through November

It is first Indian investment by H&M Group, company that owns fashion retail brand H&M, COS, and Monki

STOCKHOLM (Reuters) -Fashion retailer H&M on Thursday reported a bigger than expected second quarter profit as many of the company's stores reopened but earnings remained well below pre-pandemic levels and the group's shares fell sharply.

Low-cost fashion brand Hennes & Mauritz AB said Tuesday sales had increased 75% in Q2 and early June, affecting both online purchases and physical stores, adding that 1,300 stores were temporarily closed at the start of the period due to the pandemic. Those who remained open faced coronavirus restrictions, including on opening hours, number of customers and store space, the group said. In Hennes & Mauritz's large markets, such as France and Germany, stores were closed throughout most of the quarter. As more people are vaccinated, a number of markets have gradually allowed stores to reopen and the H&M group's strong recovery continues, said the Stockholm-based company, the world's second biggest fashion retailer that is known for the brand H&M. This shows that customers appreciate the collections and being able to shop via their preferred channel. At the end of the period that ended May 31, most of the H&M group's markets still had restrictions resulting in reduced .