News | Latest Breaking News Stories & Headlines

H&M profit jumps as shoppers embrace autumn styles

Swedish fashion group H&M has today reported a substantially larger than expected rise in third-quarter profit as customers responded well to its autumn collections, although the company warned of a tariff-related impact in the current quarter.

Business • 25 Sep

Zara owner Inditex is the world's biggest listed fast-fashion retailer

Shares in Zara owner Inditex tumble amid slowing growth

Zara owner Inditex reported a slower start to its first quarter starting February 1, raising questions around its ability to keep building on rapid recent growth and sending its shares down 8%.

Business • 12 Mar

H&M has today reported a lower than expected operating profit for the June-August period

H&M abandons 2024 earnings margin target, Q3 profit lags

H&M, the world's second-largest listed fashion retailer, said today it no longer expected to reach its full-year earnings margin goal, while reporting a lower than expected operating profit for the June-August period.

Business • 26 Sep 24

H&M said its quarterly operating profit was 7.1 billion Swedish crowns ($672.5m) - below a mean forecast of 7.37 billion

H&M casts doubt over margin target as June sale drop

H&M has today cast doubt over its full-year profit margin target after the world's second biggest listed fashion retailer missed quarterly earnings forecasts and predicted a drop in June sales.

Business • 27 Jun 24

Zara owner Inditex, the world's largest listed fashion retailer, reported €8.15 billion in sales during the three months to April

Zara owner Inditex boosted by pick-up in Spring sales

Zara owner Inditex has today reported a pick-up in recent sales from its Spring/Summer collections, boosting its shares as the world's top fashion retailer delivered quarterly results in line with expectations.

Business • 05 Jun 24

Next has today reported a 5.7% rise in first-quarter full-price sales - slightly ahead of its guidance

Next keeps profit guidance after first-quarter sales rise

Clothing retailer Next has today kept its forecast for annual profit after reporting a 5.7% rise in first-quarter full price sales, slightly ahead of its guidance.

Business • 01 May 24

H&M is the world's second-biggest listed fashion retailer

H&M's Q1 operating profit rises more than expected

H&M, the world's second-largest listed fashion retailer, beat first-quarter operating profit expectations today, as new CEO Daniel Erver said spring collections were well received and sales showed signs of recovery.

Business • 27 Mar 24

H&M has struggled to keep pace with bigger rivals such as Zara owner Inditex, while China-founded fast-fashion firm Shein is also expanding rapidly in Europe

H&M's new boss Erver faces battle to reboot sales

Investors will be looking for reassurances from new H&M chief executive Daniel Erver that he has the right plan to reboot revenue growth when the fast fashion retailer reports its first quarterly earnings under his leadership on Wednesday.

Business • 25 Mar 24

Mango's US expansion helps sales top €3 billion in 2023

Spanish fashion retailer Mango has today reported record sales of €3.1 billion in 2023, beating its forecast after matching domestic rival Zara's strong expansion in the US.

Business • 11 Mar 24

H&M is the world's second-biggest listed fashion retailer after Inditex

H&M's Q4 sales fall slightly more than expected

Swedish fashion retailer H&M has today reported a slightly larger than expected drop in September-November sales measured as the company aims to prioritise profitability.

Business • 15 Dec 23

ASOS has posted adjusted earnings before interest and tax (EBIT) loss of £29m for the year to September 3

ASOS shares sink after warning on 2024 sales

Online fashion retailer ASOS has warned that sales would fall again in 2024, hitting its shares, though the British company said its ongoing turnaround meant growth would return the following year.

Business • 01 Nov 23

H&M, said it expected September sales to be down 10% year-on-year measured in local currencies

H&M blames warm weather for September sales slide

H&M said unusually hot weather in many of its European markets had delayed the start of the autumn shopping season, sending sales lower in September, while cost cuts helped the fashion retailer's quarterly profit rise.

Business • 27 Sep 23

The new Asos Belfast hub will be operational in early 2022, the company said today

Asos to create 184 jobs in Belfast tech hub

Online fashion retailer Asos is to invest £14m in a new tech hub in Belfast, creating 184 jobs over the next three years.

Business • 28 Sep 21

H&M is the world's second-biggest fashion retailer

H&M June-August net sales rise 9%, less than expected

Sales at Sweden's H&M, the world's second-biggest fashion retailer, increased less than expected from a year ago in the three months to August, and remained lodged below pre-pandemic levels.

Business • 15 Sep 21

Next has reported a rise of 19% in full price sales in the last 11 weeks compared with two years ago

Next beats sales forecast, upgrades profit guidance

Fashion retailer Next said it had soundly beaten its expectations for full price sales, with a rise of 19% in the last 11 weeks compared with two years ago.

Business • 21 Jul 21

Fashion retailer Inditex, which owns Zara, has reported a 14% fall in sales in the three months from August to October

Zara owner Inditex narrows sales decline in Q3

Zara owner Inditex said today that many of its stores were closed or operating with restrictions as a fresh wave of Covid-19 lockdowns hindered the fashion giant's path to recovery.

Business • 15 Dec 20

H&M said its sales had been hit again from the end of October with Covid-19 once again spreading more rapidly

Fashion retailer H&M's sales dip 10% in Q4

Sweden's H&M said today that local currency sales fell 10% in the September-November quarter as the second wave of the pandemic led to a fresh slowdown towards the latter part of the period.

Business • 15 Dec 20

H&M's fiscal third-quarter profit that was slightly higher than a preliminary reading and analyst expectations

H&M to close stores as online shift speeds up

H&M, the world's second-biggest fashion retailer, said today that sales continued to recover in September as it reported a fiscal third-quarter profit that was slightly higher than a preliminary reading and analyst expectations.

Business • 01 Oct 20

ASOS said it was cautious on the short to medium term outlook on demand

ASOS sees sales rise 10% in lockdown period

Online fashion retailer ASOS said today its sales rose 10% in the four months to June 30, benefiting from trading through the coronavirus lockdown while store based rivals were forced to close shops.

Business • 15 Jul 20

H&M said that local currency sales so far in June were down 25%

H&M reports slightly bigger than expected Q2 loss

Sweden's H&M, the world's second-biggest fashion retailer, has today reported a slightly bigger fiscal second-quarter loss than expected as pandemic closures weighed.

Business • 26 Jun 20

Ted Baker said it plans to reduce cost and shift toward online sales as it struggles to ride out the coronavirus crisis

Struggling Ted Baker raises £105m to ride out pandemic

Ted Baker has raised £105m in new equity, the loss-making fashion retailer said today, amid plans to reduce cost and shift toward online sales as it struggles to ride out the coronavirus crisis.

Business • 18 Jun 20

60% of H&M stores still remain temporarily closed

H&M's sales tumble, stockpiles grow in March to May

H&M, the world's second-biggest fashion retailer, said local currency sales had tumbled 57% since the start of March compared with a year ago as the Covid-19 pandemic and lockdowns kept most of its stores closed.

Business • 07 May 20

H&M shares have spiked 46% this year, and 58% from the 13-year low seen in 2018

H&M posts first quarterly profit rise in over two years

H&M posted its first rise in quarterly pretax profit in more than two years today as the world's second-biggest fashion retailer said its drive to meet rapid changes in the market were on track.

Business • 03 Oct 19

H&M said sales before currency fluctuations were up 8% in the three months from June to August from a year earlier.

H&M's sales grow at fastest pace in three years in Q3

Sweden's H&M, the world's second-biggest fashion retailer, today reported its steepest sales growth in three years in local-currency terms and said its summer collections had been well received.

Business • 16 Sep 19

New Look staved off a potential collapse into administration last year when creditors and landlords backed a plan enabling it to close 60 UK stores

New Look losses mount as Brexit, rain deters shoppers

Fashion chain New Look today reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept shoppers out of its stores.

Business • 25 Jun 19

Fashion Retailer