H&M reported a 20% rise in third-quarter profit with strong August sales offset by rising costs that ate into gross margins. In the quarter ended August 31, profit after tax was Skr4.24bn (£367m),
a jump of 23%. Sales including VAT for the quarter were Skr31.47bn (£2.7bn), an increase of 14%. Group sales excluding VAT improved 14% during the quarter, up to Skr26.89bn (£2.3bn).
Footwear specialist Clarks has slumped to record losses in its more recent full-year results due to coronavirus restrictions and store closures.
Unilever has hiked prices and warned of further inflationary pressure next year amid rising costs for energy and raw materials.
JD Sports has acquired a controlling stake in Greek retailer Cosmos as it presses ahead with its international expansion drive.
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With both Tesco and Superdry pulling out of international ventures on the same day, Retail Week asks whether UK retail is scaling back its global ambitions.
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
The coronavirus outbreak has sparked fears and headlines worldwide since emerging in the Chinese city of Wuhan at the start of the year.
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