H&M sales surge as stores reopen
By Sarah Wood | 15th June 2021
H&M has seen sales rise to above 2019 levels, as stores have reopened across the world.
The world's second biggest fashion retailer, which has stores in Gloucester and Cheltenham, said sales for 1st - 13th June were up two per cent on the same period in 2019, although sales for the quarter as a whole are still well below 2019 levels.
Net revenues increased by 62 per cent on 2020 levels to year on year to £3.97 billion ($5.59 billion), as reported by Retail Gazette.
About 4,000 of H&M's 5,000 stores worldwide temporarily closed during the pandemic.
But the company said, as stores have begun to open around the world, it is starting to recover, supported by strong online sales.
Just 140 stores are now closed, compared to over 1,000 at the start of the quarter.
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