H&M optimizes network as profits decline

After Swedish fast fashion giant Hennes & Mauritz (H&M) reported a 53% drop in net profit to SEK 579 million (€53.4 million) in the first quarter of its 2025 financial year, which ended in February, the group announced emergency measures it will take. These include restructuring its store portfolio.

The retail firm H&M reported weak results for the first quarter of fiscal year 2025, with slower revenue growth and profitability that did not meet consensus expectations. Although sales discounts increased by about a percentage point in the first quarter, which is explained, among other things, by a later Black Friday compared to last year. Although H&M suffered a 2024 with many store closures, and layoffs to employees; they continue to stand f…