H&M has reported a stronger than expected operating performance for Q1 20 (1 December 2019 – 29 February 2020). The group has limited exposure to China (<6%), so that early impact of the COVID-19 outbreak in China has been fully offset by the robust year-end sales in western countries. However, as the COVID-19 is spreading worldwide, over 75% of H&M’s stores have been temporarily closed, sales in March have slumped by 46% and therefore the group is expecting a negative
03 Apr 2020
Q2 20 will be loss-making
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Q2 20 will be loss-making
H&M Hennes & Mauritz AB Class B (HMSB:ETR) | 0 0 0.3% | Mkt Cap: 203,588m
- Published:
03 Apr 2020 -
Author:
Jie Zhang -
Pages:
3
H&M has reported a stronger than expected operating performance for Q1 20 (1 December 2019 – 29 February 2020). The group has limited exposure to China (<6%), so that early impact of the COVID-19 outbreak in China has been fully offset by the robust year-end sales in western countries. However, as the COVID-19 is spreading worldwide, over 75% of H&M’s stores have been temporarily closed, sales in March have slumped by 46% and therefore the group is expecting a negative