Sales at H&M online channel up 40% in H1 2020
Wpis dostępny jest także w języku: polski
H&M registered sales revenues in Poland of SEK 2,227m (PLN 953m) in H1 2019/2020. This represents a decrease of 21% compared with the same period in the previous year. At the same time, when measured in local currency terms, sales in Poland dropped by 22%, caused by COVID-19.
Swedish fashion retailer H&M registered sales revenues in Poland of SEK 2,227m (PLN 953m) in six months of its current fiscal year, i.e. between 1 December 2019 and 31 May 2020, accounting for 2.7% of the company’s total revenues. Poland is the 11th largest market (in terms of sales revenues) where the company is present.
This represents a decrease of 21% compared with the same period in the previous year, when it reached revenues by SEK 2,822m (PLN 1,201m). At the same time, when measured in local currency terms, sales in Poland dropped by 22%.
H&M reported two new store openings and no store closures in Poland in H1 2019/2020, and its chain in the country remained at 192 outlets.
Sales revenues decrease in almost all markets
As in the case of other clothing chains, double-digit increases in the e-commerce channel did not compensate for the drop in sales resulting from the closure of shops in shopping malls. In H1 2019/2020, the company reported a 40% y-o-y increase in internet sales on a global scale. In turn, total revenue (expressed in Swedish crown) decreased by 23% in the reporting period.
Moreover, it is to be expected that this year will be one of the worst for the retail clothing and footwear market, which in recent years (2015-2019) has grown on average by 4.7% per year.