H&M says more in-season buying paying off as sales edge higher

H&M has revealed its sales have edged higher in recent months after the retailer said efforts to react faster to fashion trends and focus on value were paying off.

The company, which also owns brands including Cos, Weekday and & Other Stories, said net sales increased to 57.2 billion Swedish krona (£4.4 billion) between June and September, which was 1% higher than the year before.

It marks a return to growth after sales declined by 3% over the first half of the financial year.

Daniel Erver said greater support from AI and committed employees will allow the fashion retailer to increase its relevance (PA)

PA Archive

Chief executive Daniel Erver said sales had “developed in a positive direction” in the last quarter added he sees “further potential to increase sales going forward”.

He said the retailer was “increasing the proportion of in-season purchasing to more quickly meet customers’ demand for fashion and quality at the best price”.

“At a time when consumers are affected by high living costs, we are gradually strengthening our customer offering through attractive and inspiring products, shopping experiences and brands,” he added.

“Initiatives in the supply chain, greater support from AI and committed employees allow us to increase relevance and precision throughout the business – which will help deliver even greater value for our customers.”