H&M reports 50 percent drop in Q2 sales

In the second quarter to May 31, 2020, the H&M group’s net sales decreased by 50 percent to 28,664 million Swedish krona (3,050 million dollars) compared with the corresponding period last year. In local currencies, the company said in a statement, net sales also decreased by 50 percent. Online sales during the quarter under review, increased by 36 percent in SEK and 32 percent in local currencies.