Budget fashion group H&M (HMb.ST) expects to raise prices further this year, it said on Wednesday after reporting forecast-beating profits with margins benefiting from fewer discounts.
H&M in the first half of the year raised prices in the face of higher transport and raw material costs, and Chief Executive Officer Helena Helmersson told Reuters prices would likely rise also throughout the rest of the year. Hikes would vary between markets depending on the competitive situation, she said.
“Although most of the restrictions associated with the Covid-19 pandemic essentially seem to be over, many challenges remain. Disruption and delays still exist in the supply chain, but are gradually being eased. At the same time, there is substantial inflation,” H&M said.Reuters