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18 Dec 2023

H&M Sales Fall Amid Reduced Fast Fashion Demand

H&M sales [plummeted by 4%](https://www.businessoffashion.com/news/retail/hm-sales-drop-as-consumer-demand-for-fast-fashion-wavers/) in the quarter, affected by decreased customer spending and store closures in Russia. The pressure to discount inventory intensifies as the company contends with ongoing competition from [Inditex](https://www.inditex.com/itxcomweb/en/home) and Shein. Despite a challenging year, H&M's stock rose 57%, reflecting efforts to enhance profitability and manage inventory surplus.