H&M’s Sept Sales Hit by Supply Delays After Profit Tops Pre-Pandemic Level

STOCKHOLM—Supply disruptions hampered H&M’s sales in September, the Swedish retailer said on Thursday, after its June-August profit surpassed expectations and pre-pandemic levels. Disruptions to the global economy during the pandemic have upset global supply chains, leading to shortages of goods as well as containers, storage and drivers for the transportation of goods, and causing a spike in shipping costs. “Sales in September 2021 were slightly higher than in the corresponding month the previous year in local currencies, even though demand was not able to be fully met because of disruption and delays in product flow,” H&M said. Chief Executive Helena Helmersson told analysts and media bottlenecks affecting H&M were mainly in production, transport, and ports. She said the situation was now improving at the supplier end but that H&M was bracing for more delays in deliveries in the current quarter. Fiscal third-quarter pretax profit at the world’s second-biggest fashion retailer …

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