Business World

    Highlights : H&M India sales fall 74% during March-May quarter. H&M is the world's 2nd largest clothing firm. Globally, the Group's net sales decline by 50% Hennes & Mauritz ( H&M ) India reported a 74% decline in sales for the quarter ended May 2020, as most of the stores remained shut for nearly 2 months in the quarter. The world's 2nd largest clothing firm , which follows a December-November financial year, reported sales of ₹ 90 crore in the 2nd quarter. During the six months period ended May, it clocked ₹ 602 crore, a 19% fall as compared to a year ago. Globally, the group's net sales fall by 50% as stores were temporarily closed in many markets.  The Stockholm-based H&M has opened a store a month in India on average, so far since it's entry in India in October 2015, taking the total count to 48 at present . About H&M :   Hennes & Mauritz (H&M) is a Swedish multinational clothing-retail company, known for its fast-fashion...