H&M’s quarterly profits are always big news, but Thursday’s report was overshadowed by the announcement that the company has a new CEO. Helena Helmersson is taking over from long-time CEO Karl-Johan Persson.
Sustainability may be increasingly figuring in consumers' buying decisions, but some executives in the fashion retail industry are worried that the process of ‘eco-shaming’ could have negative consequences.
Barely a day goes by at the moment when we don’t news about resale and Thursday was no different. H&M said that it has increased its investment in ‘re-commerce’ platform Sellpy and is now its majority owner.
H&M’s sales may have grown in Q2 but it has reported a small drop in its pre-tax profit. However, encouragingly, the company said its summer collections are selling well and June sales in local currencies are up 12%.
H&M is investing heavily in areas like artificial intelligence and customer loyalty as it looks to improve the way it spots trends and plans logistics, and ultimately reduce discounted sales and piles of unsold stock.