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Agenda-setting intelligence, analysis and advice for the global fashion community.

H&M Abandons 2024 Margin Target as Costs Hurt Profit

The retailer said a strong Swedish crown and costs related to shutting down its online fashion outlet Afound hurt profit, and that the cost of markdowns had increased over the quarter.
H&M Group is losing customers to rivals Shein and Zara.
Shares in H&M dropped 8 percent at the open before paring losses to trade down 3.2 percent by 09:40 GMT. (Getty Images)

H&M

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Further Reading

H&M’s Big Bet on Fashion’s Elusive Middle

In an exclusive interview, CEO Daniel Ervér outlined his strategy to turn the Swedish fast-fashion giant’s greatest weakness – its positioning above Shein but below Zara in the category’s pricing hierarchy – into a strength. It all kicks off with a collection due out next month.

What’s the Plan at H&M?

The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.

H&M Names New CEO in Surprise Move

The company surprised investors with the announcement that H&M brand head Daniel Ervér will takeover from outgoing chief Helena Helmersson.

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