H&M’s logistics revamp is paying off as third-quarter sales bounce back
Stockholm — H&M’s sales bounced back in the third quarter, helped by a new logistics system, as the world’s second-biggest fashion retailer said a revamp to meet growing online and budget competition was paying off. The Swedish company’s shares, which have lost nearly two thirds of their value since record highs in 2015, jumped as much as 13% in early Monday trade. Dealers said the stock was also boosted by a report in Britain’s Mail on Sunday newspaper that H&M chair and main owner Stefan Persson had talked to banks about "a massive debt financing package for further share purchases and a mega deal to take the firm private". H&M declined to comment. H&M has seen profits shrink and inventories pile up over the past couple of years as its core budget brand has lost sales to low-price rivals like Primark and Forever 21 as well as online competitors such as ASOS and Zalando. However, the company has invested heavily in digitalisation, cut prices and launched a review of its mix of stor...
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