The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
STOCKHOLM, Sweden — Hennes & Mauritz AB, Europe's second-largest clothing retailer, reported its slowest monthly sales growth in more than two years as soaring August temperatures in countries such as Germany weighed on demand.
Revenue in August rose 1 percent expressed in local currencies, Stockholm-based H&M said in a statement Tuesday, the weakest performance since a 4 percent decline in March 2013. That missed the average analyst estimate for growth of 5.4 percent, according to an SME Direkt survey.
H&M blamed “unseasonably warm weather” in many of its large European markets for the slowdown. Temperatures in Germany, H&M’s biggest market, reached record levels in August.
H&M shares fell 0.7 percent to 314.4 kronor in early Stockholm trading.
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Inditex SA, Europe’s biggest fashion retailer, reports first-half earnings Wednesday.
By: Paul Jarvis.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.