During an earnings call on Thursday, H&M said that the company would start testing and putting in place return fees in some markets.
CEO Helena Helmersson said, “It will take some time if we’re about to roll it out.” “We don’t know when it will be done. But again, let’s see how the tests turn out and then decide if this is the most important thing to do.
The possible fee will only apply to online orders, not in-store purchases.
Problems with the supply chain and other outside factors were hurting sales at the clothing store.
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Helmersson said that the quarter was also affected by things like the stronger U.S. dollar and higher prices for raw materials and freight. “This made a big change in the prices of things. The gross margin shows that we chose not to cover all of these costs. Outside factors had a very bad effect on the profit for the quarter as a whole.
H&M just had a bad Q3 of 2022, which forced the company to take steps to cut costs that will save $177 million.
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