Wednesday, June 18, 2008

Addicted to H&M

Our addiction to H&M grows. In an economy that is slowing down and a recession is looming that will no doubt cripple the Canadian fashion industry, retail giant H&M is cashing in, in a big way. "The Swedish fast-fashion giant said second quarter profits after financial items improved 6 percent to 5.43 billion kronor, or $839.3 million, boosted by a 25 percent sales gain in May after adverse weather conditions hamstrung sales in March and April. Sales in the second quarter rose 7.8 percent to 21.61 billion kronor, or $3.34 billion." (Source, WWD).

To read more on the impact of H&M, pick up the fall issue of FABRIC Magazine. Want a free copy?

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