HomeIndustriesFashion Retailers Remain Resilient Despite Demand Slump

Fashion Retailers Remain Resilient Despite Demand Slump

Fashion retailers have exhibited signs of market resilience despite rising concerns about a drop in U.S. demand. Economic uncertainty has led investors to believe that consumers in Europe, the U.S., and China may decide to spend less on clothing.

H&M shares rose by 6% as analysts forecasted a rise in sales for the Swedish fashion house over the third quarter. This comes after sales remained flat for the months of March through May.

Bank of America stated that H&M’s sold-out collaboration with luxury brand Mugler is expected to boost the company’s half-year earnings, which are set to be announced on June 29.

Online fashion retailer ASOS has returned to profitability following its decision to cut its inventory by 15% since the start of the year. With consumers returning to physical stores following the pandemic, ASOS decided to remove unfavorable products from its website.

“Our experience in the current trading environment is that when we create a product that really resonates with our customers and is priced correctly, full-price sales are very strong,” ASOS claimed.

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