H&M

H&M said Wednesday its net profit more than doubled in the first quarter as the world's second biggest fashion retailer worked to control costs.

The Swedish company reported a profit-after-tax of 1.2 billion kronor ($113.3 million) in the December-to-February period.

In H&M's flagship Paris store it is hard to find clothes that do not claim to be made from "recycled materials."

Last year, 79 percent of the polyester in its collections came from recycled materials, and next year it wants it all to be recycled.

Spanish fashion retailer Zara is expanding its used apparel scheme to Greece and another 13 European countries from December 12, Reuters reported the company as saying on Tuesday. Their 'Pre-Owned' service will sell, repair and donate second-hand clothes.

The Russian ruble's wobble in value has exposed a crack in President Vladimir Putin's fortress economy, a vulnerability quickly plastered over by the Kremlin's economic team in a move that allowed the currency to regain its footing, at least for now.

Shares in H&M surged yesterday as the Swedish clothing giant reported better-than-expected earnings for its second quarter.

H&M reported a net profit of 3.29 billion kronor ($305 million) for the March-to-May period.

It was down from 3.68 billion kronor the year before but above expectations of 2.84 billion kronor in a Bloomberg survey of analysts.

Chinese cut-price fast-fashion giant Shein defended its business model, saying demand-based production accounted for its low prices and not forced or cheap labour.     

Founded in China in 2008, Shein has swiftly claimed a top place in the global fast-fashion marketplace, offering young social-media-savvy customers low-priced collections that turn over at a steady clip.    

Completing one year from the start of their cooperation with Amazon, Hellenic Post responded to the challenge, delivering 95% of the parcels within or earlier than the relevant deadlines. Today, they manage on a monthly basis 70% of the European volume of the company, which reaches Greece through the Croatian hub.

Sneakers made from banana or pineapple leaves, dresses from nettles or fish scales, the search for sustainable materials has taken the fashion industry to some wild places.

Experts warn these new textiles are not a quick fix for fashion's enormous problems with over-consumption and waste, but may be a necessary step in developing cleaner technologies.

Swedish low-cost fashion brand Hennes & Mauritz AB said yesterday that its net sales in local currencies have increased by 8 percent in the fourth quarter of 2021 to 56 billion kronor ($6 billion) back at pre-pandemic level with the full year net sales increasing by 6 percent to 199 billion kronor ($21 billion).

Γιατί η Κίνα έβαλε στο στόχαστρο H&M και Nike