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H&M u-turn on charging customers to return online purchases in-store
H&M has said it will not charge a returns fee for shoppers who return online purchases in-store.
Swiss market leader Migros reported group net sales declined 3% to CHF24.95bn (£14.7bn) for 2009.
The group blamed lower prices of Migros’ products, a dramatic drop in crude oil prices and a decline in business travel for
the drop.
However, net profit soared 20.8% to CHF846m (£500m). And the group’s other fascias recorded encouraging sales growth: 2.5% at discount chain Denner, 18% at grocery ecommerce division LeShop and 4.8% at sport and leisure stores banner SportXX.
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