Anda Kania
16 Mar 2020 / 5 Min Read
The fast fashion retailer saw its second quarter sales take a hit due to the outbreak, despite group sales for the three months to February 29 reaching GBP 5 billion.
The negative impact was seen mainly in China, where the outbreak first began. Demand in the region dropped after January 23 “as a result of the rapid development of the virus”.
H&M posted signs outside stores to ensure customers were informed of its new policy in limiting cash transactions. All stores are now temporarily closed in Italy – the second worst affected country after China – and during the weekend all stores were also closed temporarily in Poland, Spain, the Czech Republic, Bulgaria, Belgium, France, and partly in Greece. Online trading will continue as usual.
Anda Kania
16 Mar 2020 / 5 Min Read
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