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H&M sees slow start to spring season as cold weather hits sales

Summary by Ground News
H&M posted an unexpected quarterly profit thanks to a boost from its second-hand platform Sellpy. Sales in local currencies for the three months to February 28 lifted 3% and are expected to edge up by just 4% in March. Sales across Western Europe, including the UK, lifted 9% in the first quarter.

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The IndependentThe Independent
Lean Left

H&M sees slow start to spring season as cold weather hits sales

But the group said its second-hand platform Sellpy helped it deliver an unexpected profit for the first quarter.

·London, United Kingdom
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Irish IndependentIrish Independent
Lean Right

H&M sees slow start to spring season as cold weather hits sales

Fashion chain H&M warned that cold weather has delayed demand for spring ranges in many of its markets, but posted an unexpected quarterly profit thanks to a boost from its second-hand platform Sellpy.

·Ireland
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Bias Distribution

  • 50% of the sources lean Left, 50% of the sources lean Right
50% Right
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Irish Independent broke the news in Ireland on Thursday, March 30, 2023.
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