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H&M sales up eight per cent

H&M sales were up eight per cent in the third quarter from a year earlier.It was the fifth consecutive quarterly rise.

H&M, based in Sweden, is the world’s second biggest fashion retailer. The group has had well-received summer collections and an increased market share. The stock has soared 51 per cent this year on hopes that H&M is getting back on track after years of falling profits due to slowing sales at its core brand’s stores, and investments to adapt to tougher competition and changing shopping habits. Activity levels related to its transformation work remained high in the third quarter, an indication investments in physical stores and online will weigh on margins again in the quarter.

In the year-ago period, sales were disrupted in several key markets due to troubles implementing a new logistics system. Globally, H&M is also increasingly integrating online and physical stores in most markets including India where it launched its online store in March this year. The retailer stocks fast fashion items created in-house and teams up with designers for one-time collections. H&M has started to geographically diversify its collaborations, after having mostly formed partnerships with western brands in the past. For the upcoming autumn season, H&M has teamed up on capsule collections with an Italian designer and a Chinese designer.