After a bruising battle last year with an excess inventory pile that forced markdowns and threw its fast-fashion approach into question, H&M has managed to reverse course.
“Our ongoing transformation work has contributed to stronger collections with increased full-price sales, lower markdowns and increased market shares,” CEO Karl-Johan Persson said in a statement. “Sales developed well both in stores and online in many markets, including Sweden which grew by 11 percent, the UK by 8 percent, Poland by 15 percent, China by 16 percent and India by 42 percent in local currencies.”
