H&M launches new-look store in Newmarket

Global fashion retailer H&M launched in Westfield Newmarket this week – the chain’s ninth store in New Zealand. 

The 2,300 sqm store features a new layout, spans two levels, and features mens and womenswear, as well as items for kids and babies. The Newmarket store also houses the retailer’s Home offering.

The store launched on Thursday 12th, and saw queues start building up at 5am. 

“We’re overwhelmed by the response,” said H&M New Zealand country sales manager Daniel Lattemann.

“Seeing hundreds of excited shoppers eager to enter our new store is a humble feeling. 

“The H&M experience is always evolving and we’re so excited to be able to present a fresh look and feel throughout this new store. WIth the addition of wooden interior features accented by lush green planting, as well as a lounging area for customers to relax and enjoy, we’ve created a warm and comfortable space which really adds to the shopping experience.”

Profit up 25 per cent in latest quarter

The Swedish-headquartered retailer recently revealed pre-tax profit rose 25 per cent in its third quarter to US$506 million as a result of trimmed inventory and customer pickup of its summer range. 

According to chief executive Karl-Johan Persson, the season got off to a promising start. 

Net sales rose by 12 per cent globally to $6.35 billion, boosted by a 30 per cent jump in online sales. 

The increase in full-price sales and a reduction in markdowns resulted in the group’s first double-digit growth in operating profit and its first quarterly increase since the second quarter of FY16.