Weekday news and archive

Ellen MacArthur Foundation and leading brands start The Fashion ReModel to pursue a circular approach

How to make money in fashion without making new clothes? That is ultimately the question that needs to be solved by the industry in view of the current take-make-waste models that churn out 100 billion (!) pieces of new clothing each year only to be discarded after a few wears. The Ellen MacArthur Foundation has announced a new initiative called...

Fashion

Cheap Monday relaunching with denim for the “next generation”

H&M Group’s denim brand Cheap Monday is relaunching at the end of summer with a curated assortment through Weekday's online shop and in select Weekday stores and retailers. Originally launched in 2004, Cheap Monday said its comeback would maintain its “edge and punk spirit while making it relevant for the next generation,” with a denim line-up...

Business

H&M posts improved operating profit in Q1

First quarter net sales at the H&M group declined to 53,699 million Swedish krona, while gross profit increased by 7 percent to 27,655 million Swedish krona, corresponding to a gross margin of 51.5 percent. The H&M group’s sales from March 1 to March 25, 2024 increased by 2 percent in local currencies compared with the same period the previous...

Fashion |Beauty

Weekday collaborates with fragrance house Unifrom

Swedish brands fashion label Weekday and fragrance house Unifrom are collaborating on a “sensory” limited-edition concept featuring a perfume oil and a raw denim clothing collection. The Unifrom + Weekday ‘Tissue Feast’ collaborative collection launches on November 30 and aims to offer a “sensory feast that invites exploration beyond the...

BusinessFeatured

H&M indicates strong Q3 ahead, June sales up 10 percent

H&M Hennes & Mauritz AB group’s net sales in SEK increased by 9 percent in the first half-year to 112,488 million Swedish krona. In local currencies net sales increased by 1 percent. As communicated earlier, for the second quarter, the company’s net sales increased by 6 percent to 57,616 million Swedish krona, while in local currencies, net...

Fashion

Weekday teams up with The Fabricant on digital collectibles

High street retailer Weekday has taken further steps into the digital realm with the launch of two digital collectibles in collaboration with digital fashion house The Fabricant. The duo will be releasing a pair of sunglasses in two colourways as part of a limited-edition drop entitled Artifact 001, each available in both digital and physical...

BusinessFeatured

H&M to merge Weekday and Monki to create new ‘youth destination’

The H&M Group has announced that two of its portfolio brands, Weekday and Monki, will be merging as part of its efforts to cater more broadly to the needs of young consumers. Coinciding with the move, the company will also be reviving its denim label Cheap Monday, which was discontinued in 2019 due to declining sales. Now, the brand will be...

BusinessFeatured

H&M posts Q1 profit, sales increase by 12 percent

In the first quarter the H&M group’s net sales in SEK increased by 12 percent to 54,872 million Swedish krona. In local currencies the increase was 3 percent. Excluding Russia, Belarus and Ukraine, the company said, the increase was 16 percent in SEK and 7 percent in local currencies. Operating profit amounted to 725 million Swedish krona...

Business

H&M posts sales increase of 12 percent

Net sales at H&M Group increased by 12 percent to 54,872 million Swedish krona in the first quarter, compared with the corresponding period last year. In local currencies, the company said, net sales increased by 3 percent. Excluding Russia, Belarus and Ukraine the increase was 16 percent in Swedish krona and 7 percent in local currencies. The...

BusinessFeatured

H&M sales rise exceeds analysts' expectations

Swedish fashion giant H&M beat analysts’ sales expectations in the fourth quarter of the year. Net sales in the three months to November 30 increased 10 percent to 62.4 billion Swedish Krona (5.7 billion euros). That growth was slightly higher than the 9.5 percent sales increase analysts had expected, according to analysts polled by Refinitiv....

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...

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...