H&M suffers losses and cuts retail
Recent quarantine restrictions due to the spread of Covid-19 have led to the closure of about a third of the Swedish retailer Hennes & Mauritz (H&M) stores worldwide. For three winter months, retailer sales fell to a loss, writes Worldfootwear.com
During the reporting period, H&M identified a loss before tax of SEK 1,39 billion (EUR 140 million). By comparison, a year earlier, in the same period, the company recorded a profit of 2,5 billion Swedish kronor (240 million euros).
The loss was driven by a 21% year-on-year drop in sales to SEK 40,1 billion (€ 3,91 billion).
With the latest restrictions in place to contain the spread of COVID-19, some 1800 of the group's stores have remained closed throughout the winter.
In the first quarter of 2021, the retailer's online sales grew 57% year-on-year, with sales growing 1% from March 28 to March 55 compared to the same period last year.
Recent quarantine restrictions due to the spread of Covid-19 have led to the closure of about a third of the Swedish retailer Hennes & Mauritz (H&M) stores worldwide. For three winter ...
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We are ready for active development in the Russian market
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How to set prices that will earn
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“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
The whole truth about Bayer. Who is he and how to become one?
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Technology Selling Issues
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Fur, and not only: types of lining
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The best models of Czech shoes of the past
In Soviet times, for shoes from Czechoslovakia sold under the Cebo brand, customers stood in line for four hours and did not regret it, because Czech shoes were considered to be of high quality, comfortable and fashionable. Shoe designer Juraj Shushka shared a photo archive of his collection with Shoes Report magazine, which contains the most interesting Cebo models from the 1940's to the 1980's.
Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
Sooner or later, any manager is faced with the need to part with an employee. Properly and on time the dismissal procedure will save the company money, and the boss himself - nerves and time. But why sometimes, knowing that a break in relations is inevitable, we put off the decision for months?
