Hennes & Mauritz, the Swedish retailer better known as H&M, said its move to bolster its online presence has helped to combat the fall in high street sales.
The world’s second biggest clothing company said in a trading update yesterday that third quarter revenues rose 9 per cent to SKr64.8bn (about £5.6bn), while online sales were up by 32 per cent.
Pre-tax profit between June and the end of August shrank 20 per cent to Skr4 billion from a year ago. The group blamed problems around a new logistics system, rolled out to integrate its online services with its bricks and mortar outlets.
