H&M has pushed back some of its spring/summer campaigns due to the shipping delays caused by the ongoing conflict in the Red Sea.
The Swedish fashion giant’s chief executive Daniel Ervér told Reuters the extent of the delay would differ from country to country but could be postponed by around two weeks for some markets.
“We have made some short-term adaptation on the starting date and the launch date of campaigns,” he said, adding the impact on what is available to customers was minor.
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Ervér said that H&M had taken steps to minimise disruption by asking some suppliers to ship orders earlier and that it was ramping up efforts to nearshore its production.
The group said on Wednesday it was monitoring developments in the Red Sea and has acted to minimise any impact on the company’s product availability, freight costs and stock levels.
The note came as H&M reported its first quarter profits had almost tripled, despite a small sales dip, as it remained “fully focused on driving profitable growth”.
During the period, the retailer widened its profit margin to 3.9%, compared with a previous 1.3%, as it targets a 10% operating margin for the full year.
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