H&M limits cash payments to prevent Covid-19 spread

AK

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.

Countries:
AK

Anda Kania

16 Mar 2020 / 5 Min Read

sign up banner
the paypers logo

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

 

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

 



No part of this site can be reproduced without explicit permission of The Paypers (v2.7).

Privacy Policy / Cookie Statement

Copyright