General
Private: H&M sales dampened by second Covid-19 wave
H&M, the world’s second-biggest fashion retailer, said on Tuesday that local-currency sales fell 10 per cent in its fourth quarter, with a pronounced slowdown in the final month as the second wave of coronavirus restrictions curbed spending.
The Swedish rival to Zara owner Inditex said a recovery seen in the previous quarter had continued through much of the fourth quarter but that sales had been hit again from the end of October.
“Between 22 October and 30 November sales decreased by 22 percent compared with the corresponding period last year, as the recovery transitioned into a new slowdown as a result of the pandemic’s second wave,” H&M said in a statement.
H&M said sales in the quarter fell to 52.5 billion Swedish…
-
Noosa News21 hours agoEx-Townsville mayor Troy Thompson lied about army service, degrees, and cancer, says CCC
-
Noosa News21 hours agoSecurity concerns over Chinese-made Yutong fleet dismissed
-
Noosa News23 hours agoQueensland’s domestic violence policing and policies are being shaped by lived experience
-
Noosa News13 hours agoQueensland’s ‘promising’ coercive control laws see more than 50 charges laid in six months since criminalisation