
H&M sales slip in Q2, but set to recover in June

H&M’s net sales and gross profit slumped last quarter as retail locations closed, though shares rose as June sales showed signs of recovery. Net sales were SE56.71 billion kr (US$5.96 billion), below estimates of 56.96 billion kr, with a 1% net sales increase in local currencies. Gross profit dropped to SE31.43 billion kr, down from 33.57 billion kr one year ago. “The quarter’s result was ne