& other stories news and archive

H&M launches COS, Monki, ARKET and more online in Russia

COS, Weekday, Monki, & Other Stories and ARKET are launching ecommerce stores in Russia. The H&M Group-owned brands will each become available online in Russia this fall. The five brands each launched several new ecommerce sites throughout Europe in May of this year, and have sights set on Switzerland shortly after their Russian launches. “...

1 Oct 2020

Business

H&M expects to post profit in Q3

In the third quarter 2020, for the period June 1, 2020 to August 31, 2020, the H&M group’s net sales decreased by 16 percent in local currencies compared with the corresponding period last year. Converted to SEK, the company said in a statement, net sales decreased by 19 percent to 50,870 million Swedish krona (5,807 million dollars). The...

15 Sep 2020

Retail

& Other Stories debuts vending machine to sell cosmetics

& Other Stories is discovering new ways to connect with consumers in a retail landscape that has been changed to accommodate social distancing measures. The H&M Group-owned brand has launched a new retail experience in Galeries Lafayette: a vending machine. The vending machine will offer four of the brand's best-loved fragrances from its bath...

9 Sep 2020

Fashion

H&M Group suspends staff for use of racial slur

H&M Group has said it is “deeply sorry” and has suspended employees from its & Other Stories brand after a racial slur was used in an internal product overview. CEO Helena Helmresson said the company has launched an internal and external investigation and has suspended the team and managers responsible for the area of the business where the...

7 Aug 2020

Fashion

& Other Stories launches sustainable collection

& Other Stories has launched a limited-edition collection of ten ready-to-wear pieces that have been crafted from sustainably sourced materials such as Lyocell and organic cotton, alongside a collection of vegan leather shoes. The collection features seven dresses, a co-ord set and a standout take on tailoring in the form of a blazer dress that...

19 May 2020

Business

Hit by Covid-19, H&M sales fall by 57 percent

The H&M group’s total sales during the period March 1 to May 6 this year decreased by 57 percent in local currencies compared with the same period in 2019. Online sales, the company said in a statement, which are open in 46 of the company’s 51 online markets, increased by 32 percent in the same period. Around 80 percent of the group’s stores...

7 May 2020

Business

H&M signs 980 million euro credit facility to boost liquidity buffer in response to Covid-19

H&M Hennes & Mauritz AB has signed a new 12 months 980 million euros revolving credit facility with a six months extension option in order to further strengthen its liquidity buffer and financial flexibility in response to the Covid-19 situation. The company said in a statement: “The H&M group’s liquidity remains good. The group is continuing...

8 Apr 2020

Business

H&M Q1 sales and profit up but forecasts loss and job cuts due to Covid-19

For the first quarter to February 29, 2020, Hennes & Mauritz (H&M) group’s net sales increased by 8 percent to 54,948 million Swedish krona (5,433 million dollars), while in local currencies, net sales increased by 5 percent compared with the same quarter the previous year. The company added that profit after financial items more than doubled to...

3 Apr 2020

Business

COVID-19 impact: H&M scraps dividend, warns it may cut thousands of jobs

Hennes & Mauritz AB has announced through a statement that due to the rapid spread of the coronavirus and its impact on the business, the company is reviewing the situation market by market based on local conditions. H&M said, dialogue about temporary layoffs has been initiated in a number of markets and will be followed by further temporary...

23 Mar 2020

Retail

All H&M stores in the US and Germany shut shop

The Hennes & Mauritz (H&M) group is temporarily closing all stores in Germany and the US. The company said in a statement, due to the Covid-19 situation the H&M group will temporarily close 460 stores in Germany from March 18, based on decisions by the German authorities. In addition, the group is also closing its 590 stores for two weeks in the...

18 Mar 2020

Business

H&M Q1 sales up 8 percent but warns of coronavirus impact

In the first quarter of 2020, the H&M group’s net sales increased by 8 percent to 54,948 million Swedish krona (5,652 million dollars), while in local currencies net sales increased by 5 percent. The company said in a statement that sales development in the second half of the quarter was negatively impacted by the outbreak of the COVID-19 virus,...

16 Mar 2020

Retail

& Other Stories plans to launch in Russian market

& Other Stories has announced an upcoming retail launch in Russia, set for fall of 2020. This will be the first time customers in the market will be able to shop the collections of the H&M Group-owned womenswear brand. The brand will open a brick and mortar store in Moscow as the first part of its new market launch. The location will carry &...

3 Feb 2020