Due to the Corona-crisis closed many businesses in the world all the time, even the purchase desire of the citizens to let. The fashion chain H&M is going to feel it significantly.
Stockholm (Reuters) – Swedish fashion chain Hennes & Mauritz (H&M) are broken away due to the Corona-crisis in the second quarter, the sales. In the course of the pandemic, the fashion group had to close down worldwide branches. In mid-April, around 80 percent of the stores were affected.
revenues decreased between March and may compared to the same period last year by half, to 28,66 billion Swedish crowns (2.7 billion euros), the group announced on Monday in Stockholm.
Meanwhile, only 18 percent of the shops were closed, it said. Already at the beginning of April, the group had announced that he expected for the second quarter of a loss. The complete half-year report the company released at the end of June.
communication from H&M
