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Gloucestershire Business News

Big rise in sales for H&M

Fashion retailer H&M saw a big increase in sales for the first quarter.

Sales at H&M, which has stores in Cheltenham and Gloucester, were up by 12% between December 1, 2022 and February 28, as reported by Retail Gazette.

Excluding Russia, Belarus and Ukraine, the increase in net sales was actually 16%.

Last year, profits fell at H&M, as it fought to hang onto its price-sensitive customers and struggled with rising energy and freight costs.

The fashion retailer has just launched a resale programme in the US in collaboration with ThredUp, an online consignment platform, which is H&M's first resale marketplace in the US.

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