H&M, Boohoo sales surge as lockdowns ease
The sun is coming out, lockdowns are easing, and people are ready to spend money on clothes again.
Net sales at H&M grew 62% on the year over its second quarter, hitting almost $5.6 billion.
Though sales are still down on pre-crisis levels, the company says it is enjoying a strong recovery as stores reopen.
By mid-June 180 of its branches were temporarily shut, down from 1,300 at the start of March and around 4,000 at the height of the crisis.
The world's second-biggest clothing retailer said web sales were also doing well, even as shops came back to life.
It's a similar story over at online-only rival Boohoo.
The UK-based retailer said its sales jumped 32% over the latest quarter, with some markets much stronger.
Sales surged by 157% in the U.S.
Boohoo also benefited from the integration of newly-acquired brands, including Debenhams.
A new online version of the defunct department store is now up and running.
Tuesday's numbers add to signs of a recovery for clothing retailers.
Recent weeks have seen improving numbers from names including Next and Zara-owner Inditex.
