H&M sales boosted by ‘well-received’ summer collections

H&M has posted an increase in its third-quarter group sales which the retailer attributed to its work to meet “customers’ ever-increasing expectations”.

The fashion retailer registered a 12% rise in sales to 62,572m Swedish krona (£5.2bn) between June 1 and August 31. H&M said in a statement that “well-received summer collections and increased market share” have been the driving force behind its sales uptick.

H&M Group’s brands include COS, & Other Stories, Arket, H&M Home, Afound, Monki and Weekday.

Earlier this month the fashion group demanded new rent agreements from landlords, pushing for turnover-based rents and for any items returned to store – including those bought online – to be deducted from that shop’s revenue.

H&M said: “Like every retail business, we work with our landlords to draw up lease agreements that allow us to run a successful store portfolio. We won’t discuss the details of individual contracts as we consider this information to be commercially sensitive.”