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Signs of progress at H&M as online retail platform rollout is completed?

April 01, 2019 / Stuart Lauchlan
SHARESHARESHARE

It’s a sign of the times in the febrile retail sector that a company can announce a hefty store closure program on the back of a drop in profits and see its share price soar by nearly 16%.An uncharitable reading might be that it’s a reflection that things weren’t as bad as investors expected; a more positive one would be that there are – finally – signs that a long-vaunted turn-around strategy is showing some signs of life. That’s the position that Swedish fashion retailer H&M finds itself in today. This time last year it was struggling to shift €3.2 billion of unsold stock, while attempting to get its back end logistics tech in order and to bring its online sales channel into…well, the early Noughties would be a start. As a case in point, it was noted last month that H&M can only offer Click-and-Collect services in seven out of the 47 markets in which it operates.