$Fast Retailing (9983.JP)$is a Japanese retail holding company that is the third largest casual wear company in the world and the largest apparel company in Asia. It owns well-known clothing brands such as UNIQLO and GU. On July 11, Fast Retailing will release its quarterly results for the nine months ending May 31, 2024, including its latest third-quarter (March-May) results report. Let's take ...
H&M's new CEO faces challenges in meeting high expectations and competing with online fast-fashion rivals. The strategy of not raising prices but increasing profit through near-shoring manufacturing and supply chain efficiencies may be hard to execute due to strong sustainability and ESG standards.
$HENNS & MRTZ ADR (HNNMY.US)$H&M, the world's second-biggest fashion retailer, said on Wednesday its sales measured in local currencies in the September to November period matched levels achieved before the pandemic drove down demand. Net sales were up 8% year on year at 56.8 billion crowns ($6.22 billion) in the period, H&M's fiscal fourth quarter. Measured in local currencies, sales were up 11%. "Despite continued restrictions and the negative consequences of the pandemic, the H&M group's sales in local currencies were back at the same level as in the fourth quarter of 2019," the company said in a statement. At the end of November, around 115 H&M stores were temporarily closed due to restrictions, mainly in Austria and Slovakia. At the start of the quarter, about 100 had been closed, mainly in southeast Asia. H&M warned on Sept. 30 that sales growth in September was held back by global supply chain disruptions but did not mention the issue in Wednesday's statement.
$Allbirds (BIRD.US)$Earlier this year, data was released that indicated that 66% of global consumers have indicated that they would be willing to pay more for sustainably produced goods. That’s excellent news for companies like Allbirds. Sustainability is overtaking the fashion world as even companies like$HENNS & MRTZ ADR (HNNMY.US)$prioritize it in their operations. Allbirds is well positioned to continue revolutionizing footwear. Anyone looking for a bullish play on fashion should be watching it closely.
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Net sales were up 8% year on year at 56.8 billion crowns ($6.22 billion) in the period, H&M's fiscal fourth quarter. Measured in local currencies, sales were up 11%.
"Despite continued restrictions and the negative consequences of the pandemic, the H&M group's sales in local currencies were back at the same level as in the fourth quarter of 2019," the company said in a statement.
At the end of November, around 115 H&M stores were temporarily closed due to restrictions, mainly in Austria and Slovakia. At the start of the quarter, about 100 had been closed, mainly in southeast Asia.
H&M warned on Sept. 30 that sales growth in September was held back by global supply chain disruptions but did not mention the issue in Wednesday's statement.
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