Recently, the Swedish first-quarter financial report released by H & M showed that as of the end of the reporting period, 3,778 stores in 54 markets have been closed, resulting in a sharp decline in operating income in the first quarter. It is understood that H & M has temporarily closed all offline stores in 13 European countries or regions including Italy, Poland, Spain, Bulgaria, Belgium, France, Austria, and Luxembourg since Italy announced the national closure ban on March 10. Among them, 8 stores in Italy will be closed. The company said that this move is to optimize the store mix. Due to the impact of the epidemic, sales declined and growth slowed. Only the stores with poor operating performance were closed. It is a solution.

At present, of H & M's 5061 stores, about 60% (3050 stores) are still closed; of the 51 e-commerce markets, 46 are still open.

Between March 1 and May 6, in local currency terms, H & M's total sales fell 57% year-on-year, but online sales increased 32% year-on-year.

By region, H & M's sales in the Chinese market fell by 32% year-on-year. The largest decline was in Italy (80%), followed by Spain (76%), France (71%) and the United States (71%). In Sweden, where commercial activities are not completely banned, sales also fell by 31%.

H & M warned that it expects to suffer losses in the second quarter due to a sharp decline in sales and price reductions to adjust inventory.

H & M said that the group's cash flow is in good condition and will focus on "ensuring financial flexibility and freedom to meet business opportunities in challenging markets in the best possible condition." H & M also said that it is working hard to obtain more credit arrangements.

In order to highlight the brand's new anti-epidemic appearance, H & M recently announced that it will introduce a new fabric technology COOLMAX ?, which is a high-performance fabric that can take moisture away from the body surface and keep the wearer's body breathable and Soothing. H & M uses this fabric to make the main style of men's clothing this summer and a series of essential items for men's wardrobes. The series will be available on H & M online store and Tmall official flagship store from May 8 and on May 21 From now on, it will land in H & M gate stores nationwide. Ross Lydon, head of the H & M menswear design department, said that the COOLMAX? Series is H & M's first series that uses high-performance fabrics to optimize everyday clothing, and thereafter will see fabric innovation as a new way to advance menswear.