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H&M to cut 1,500 jobs amid cost savings programme

Swedish fashion giant H&M is to cut 1,500 jobs as part of a previously announced plan to reduce costs and improve efficiency across the business. The cost-cutting programme, which will also see the retailer cut other administrative and overhead costs, is expected to result in a restructuring charge of just over 800 million Swedish krona (63...

30 Nov 2022

Retail

H&M ‘quietly’ closes one in five UK stores to cut costs

Retail chain H&M has reportedly closed one in five of its UK-based stores as it looks to cut costs across the group. According to The Mail on Sunday, the fashion giant has closed 56 stores over the last few years, leaving the brand with 192 outlets in the region. It joins a number of other retailers that have announced they would be slashing...

21 Nov 2022

Retail

H&M opens new evolving store experience in Brooklyn

Fast fashion retailer H&M has unveiled a new store experience in Williamsburg, Brooklyn, based around the heritage of the surrounding neighbourhood. Set to continue its tenure through January 2024, the 7,000 square foot space will feature a curated collection of the brand’s styles alongside exclusive programming and ‘brand moments’ in a space...

21 Nov 2022

Fashion Featured

H&M sued for greenwashing claims, again

Shopping at H&M may not be as sustainable as the fast fashion retailer would have its customers believe. In the latest greenwashing case against the Swedish conglomerate, a claim filed in a federal court in Missouri is suing for "misleadingly, illegally, and deceptively" seeking to capitalise on consumer 'green' trends, where H&M customers are...

14 Nov 2022

BusinessFeatured

Global brands commit to forest-friendly supply chains

Fashion companies including H&M, Inditex, Stella McCartney, and Kering, have announced a collective commitment to purchase over half a million tonnes of low-carbon, low-footprint alternative fibres for fashion textiles and paper packaging. Spearheaded by environmental non-profit Canopy at COP27, each signatory company has committed to purchasing...

14 Nov 2022

Retail

H&M opens new store with home concept in London’s Angel Central

H&M has revealed a freshly refurbished store in Angel Central, London, with an array of “experiential services” and a focus on its new H&M Home concept. The store houses various services, many of which the brand is debuting for the first time, including click and collect lockers and self-checkout kiosks that contribute to the retailer’s effort...

31 Oct 2022

Business

H&M opens applications for one million euro Global Change Award

H&M has announced that the applications for its Global Change Award (GCA) have now opened, as it calls on innovators and entrepreneurs to apply for a chance to win their share of a one million euro grant. Five winners will ultimately be selected and will also gain access to the company’s one-year long GCA Impact Accelerator, with the grant to be...

21 Oct 2022

Fashion |In Pictures

H&M launches first dance collection with JaQuel Knight

H&M Move, the new activewear line from H&M launched in August to offer “stylish and functionable movewear,” have added its first dance collection with choreographer JaQuel Knight. The dance collection, for women and men, is available in 2,400 H&M stores worldwide and online and includes “dance-ready movewear” from bold jacquard unitards with...

11 Oct 2022

Business

H&M is cautiously optimistic about selling in China

In August H&M returned to China’s e-commerce platform Tmall, a year after it had been removed after a boycott when it raised concerns regarding Xinjiang cotton and the forced labour of the Uyghur community. The extend of labour camps first came to global attention in a 2020 report by the Australian Strategic Policy Institute (ASPI). H&M was...

4 Oct 2022

Business

H&M considers charging a returns fee for goods bought online

Fast fashion retailer H&M has said it is considering charging fees for returns for goods bought online. As return numbers surge - up to 30 percent of all items bought online are sent back – free shipping is biting into retail margins. In a call with analysts H&M CEO Helena Helmersson said: “It all depends on how it’s received by the customer. So...

3 Oct 2022

BusinessFeatured

H&M's Q3 results hit by Russia exit

The H&M group’s net sales in the third quarter increased by 3 percent to 57,450 million Swedish krona and in local currencies, net sales decreased by 4 percent. In the current quarter, the company said in a statement, the autumn collections have been well received and sales increased by 7 percent in local currencies in the period. The company...

29 Sept 2022

Business

H&M Q3 sales drop by 4 percent in local currencies

Net sales at H & M Hennes & Mauritz AB increased by 3 percent to 57,450 million Swedish krona in the third quarter of 2022, compared with the corresponding period last year. In local currencies, the company’s net sales decreased by 4 percent. According to the Bloomberg report, analysts expected a drop of 1.4 percent. H&M said in a release that...

15 Sept 2022