
H&M sales miss expectations amid Red Sea delays and late Black Friday
Fashion chain H&M has revealed weaker-than-expected sales for the past year after it was impacted by Red Sea shipping delays and the late timing of Black Friday.
However, the Swedish retail giant said sales growth improved in December and January as it started a new financial year.
Daniel Erver, who was appointed as the Hennes & Mauritz boss last January, said he is confident the group is 'on the right track'.
The company reported that sales grew by 3%, in local currency, to 62.2 billion Swedish krona (£4.5 billion) over the quarter to the end of November.
This was below the roughly 63.5 billion Swedish krona (£4.6 billion) forecast by analysts. Shares in the company dipped in early trading as a result.
H&M said it built up more stock over the period as it faced longer transport times due to continued disruption.
Net sales across the group were up 1% to 234.5 billion Swedish krona (£17.1 billion) for the year to November.
The company said it opened 88 stores over the year.
H&M added that group sales increased by 4% over the two months to January 28 as demand accelerated.
Bosses at the business have overseen a shake-up in recent months which included the closure of stores under its Monki brand as it sought to streamline its operations.
Mr Erver added: 'During 2024, we made significant improvements.
'Our priority was the H&M product offering, with an initial focus on womenswear, where we increased our trend responsiveness and overall assortment relevance.
'In the fourth quarter, full price selling of womenswear increased in all channels.
'We accelerated the pace of improvements to our supply chain, increasing flexibility and product availability across channels.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Scottish Sun
9 hours ago
- Scottish Sun
Shoppers run to Aldi for £20 buy that adds a ‘magical' touch to your garden & ‘looks beautiful at night'
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A BUDGET buy from Aldi can help to brighten up your garden on summer nights. This affordable item is said to add a "magical" touch to your space. Sign up for Scottish Sun newsletter Sign up 2 Aldi shoppers can pick up a budget decor buy that brightens up gardens on summer nights Credit: Facebook You can level up your garden for the long summer nights ahead with a solar-powered tree. And thanks to Aldi, this outdoor addition won't even cost you that much. Shoppers can pick up the Garden Bright Solar Trees for just £19.99 from the Specialbuy section. The savvy deal was shared on the Facebook page Dansway Gifts and Bargains UK. A bargain hunter posted a photo of the items in the shop's middle aisle. They detailed the two options available to customers, the "beautiful Garden Bright Solar Magnolia and Cherry Blossom Trees". The trees are fitted with a "dusk sensor" allowing them to glow brightly once the sun goes down. They measure just under four foot and features 100 cool white lights. Another impressed shopper shared what her tree looked like after dark. The Aldi customer summed up the buy as "looking beautiful in the evening". The exact date Aldi's sell out wooden garden day bed returns to stores Other Facebook users shared their thoughts on the solar light trees in the comments section. "These are lovely," wrote one commenter, while another person agreed, asking: "How beautiful are these?" A third Facebook user shared her plans to buy the tree as a present for her friend. And a Home Bargains buy will brighten up your space while making it look like something out of Bridgerton. Meanwhile, Amazon has a £14 privacy buy that is described as "perfect" for summer. Another privacy fence is also available from Amazon, for just £5. B&Q has an affordable privacy fence currently on sale, and you can put it up yourself. And a £10 B&M product adds inches to your fence, elevating your garden's privacy. You can also add a stylish touch to your privacy fence with another B&M buy. And its not just fences that can help give you privacy in your garden, one B&M item can help shield you from nosy neighbours and the sun. Meanwhile, another Home Bargains buy is said to add a touch of glamour to your garden.


Wales Online
9 hours ago
- Wales Online
IKEA is selling meals for as little as 45p this summer
IKEA is selling meals for as little as 45p this summer The furniture giant has halved the prices of its popular meals, including its famous meatballs The IKEA store in Cardiff (Image: Mark Lewis ) Furniture giant IKEA is offering half price meals for its customers this summer with prices starting from as low as 45p. The Swedish firm is known for selling a variety of home furnishing products including accessories, soft furnishings and roomsets. But the company is equally known for its food, particularly its meatballs, which have found a place in pop culture with people queuing at stores to get their fill after a long day of shopping. Once people make their way into the store, they can have their pick of Swedish cuisine from the branch's Swedish Restaurant, Bistro, Cafe, and Food Market. In the current limited time offer people will be able to buy food from the store's restaurant at half their original price, and yes, it includes the famed Swedish Meatballs! From superstar gigs to cosy pubs, find out What's On in Wales by signing up to our newsletter here However, there is a catch. Only customers, who are 'IKEA Family Members' will be able to get the food at half price. These 'IKEA Family Members' will be able to grab a 50% discount on all main meals and meals for children. Article continues below The offer, which started on Thursday, June 5, will be running until Friday, August 29. Eligible customers will be able to get these meals at half price from 11am unit the store closes from Monday to Friday. The meals which will see their prices halved are: Article continues below 8-piece meatball meal: £2.75 down from a regular price of £5.50 12-piece meatball meal: £3.35 down from a regular price of £6.75 Fish and chips: £3 down from a regular price of £6.95) Sausage and Mash: £2.45 down from a regular price of £4.95 Veggie Sausage and Mash: £2.45 down from a regular price of £4.95 Salmon Fillet: £3 down from a regular price of £6.95 Pasta and Tomato Sauce: £1.45 down from a regular price of £2.95 Rice mix with vegetables: £1.25 down from a regular price of £2.50 Mushroom, Cheddar and Garlic Tart: £3.25 down from a regular price of £6.50 Children's Meatballs: £1.25 down from a regular price of £2.50 Children's Plant balls: 95p down from a regular price of £1.95 Children's Pasta: 45p down from a regular price of 95p Children's Sausage & Mash: £1.25 down from a regular price of £2.50 Children's Veggie Sausage & Mash: £1.25 down from a regular price of £2.50 Children's Plant based pieces: 95p down from a regular price of £1.95 People can register to become an IKEA family member by signing up through the IKEA website which will unlock a variety of exclusive deals and benefits. You can do that by clicking here.


Daily Mirror
12 hours ago
- Daily Mirror
Explosive Viktor Gyokeres 'blackmail' statement made in Man Utd transfer update
Sporting CP president Frederico Varandas has claimed that blackmail and threats will not force him to agree to a transfer for Viktor Gyokeres. It has been said that the forward is willing to go on strike after he believed the club had went back on their word over the fee they were willing to accept for a move. Gyokeres has drawn interest from across Europe and the Saudi Pro League, with Arsenal and Manchester United among contenders for his signature. The 27-year-old is thought to prefer a move to the Premier League. But Varandas has denied he agreed to allow Gyokeres to leave if an offer reaching £60million arrived for the Swedish forward. And the president has suggested there has yet to be an offer on the table for the forward. "One thing you should already know is me better," said Varandas, per Record. "Threats, blackmail and insults don't work with me. "I can guarantee that Viktor Gyökeres will not leave for €60m+10m because I never promised him that. This game that the agent is playing only makes the situation worse. To this day, Sporting has not had an offer for Viktor Gyökeres, neither today nor last season." Gyokeres' fury is said to stem from his belief that the Portuguese giants are demanding £67m, a figure almost £10m more than he expected. While Varandas accepted the club will not demand the player's release clause be activated, he attempted to explain what he considers the truth of the agreement made with Gyokeres' agent. New Manchester City director of football Hugo Viana played a crucial role before Varandas was required to enter negotiations. "I think it's fair to explain the whole process. The process started last year when the season ended, Sporting were champions and had a fantastic season," Varandas explained. "During the transfer window we realised that Viktor was going to stay at Sporting because we didn't receive a single offer for him. When the season started, the agent approached Hugo Viana several times, asking if we could add an extra fee to the contract if he scored 'x' goals; I gave Viana the opportunity to negotiate, within reason. "Viana manages the relationship with the agents, and very well, this is done by the sporting director. One of the agent's biggest concerns was whether we would demand the value of the 100 million clause next year. "Viana negotiated with the agents over several meetings, until the agent himself asked for the president's presence to settle the matter once and for all. The issue of the bonus for 'x' goals seemed reasonable and at that meeting, where the president, the agent and Viana were present, no player was present, Viktor was not present, the agent wanted to guarantee certain things." "It was agreed that Sporting would not demand the release clause at the end of the following season, especially because he was going to be 27. Then, we knew Viktor's dream of going to a club where he could fight for the Champions League and we have common sense. "We guaranteed that we would not demand 100 million. In that meeting, the agent wanted to anchor the departure to a value, he spoke of 60 million, 70 million... And I said 'there's no point in setting a value because I don't know what will happen here in a year, if he gets injured, if he has a disappointing season... There's no point in setting a value, I don't know if it will be 40, 60 or 80. What I can guarantee is that I will not demand 100 million'. "From then on, I never spoke to the agent again, I never spoke to the player about departures and values. 10 months have passed and I see the agent in the press spouting information here and there, but Sporting has common sense, it keeps its word. The president of Sporting said that the club would not demand the clause and that we would adjust the value to Viktor's performance, he was one of the best players ever to step on the pitch in Portugal." Sky has slashed the price of its bundle ahead of the 2025/26 season, saving members £192 and offering more than 1,400 live matches across the Premier League, EFL and more. Sky will show at least 215 live Premier League games next season, an increase of up to 100 more.