H&M mulls charging for online returns

Bloomberg

Swedish fashion retailer H&M is considering charging for online returns amid a series of efficiency measures to reduce surging costs.
The company is trying out the fees in Norway and the UK in coming days, embracing a measure that rivals have turned to as well, Chief Executive Officer Helena Helmersson said.
“We are testing it as a possible measure we could take, all depending on how the customers react,” the CEO said.
H&M is looking to slash costs to counter increased raw materials and freight prices after a disappointing quarterly report that sent share price plunging close to a 18-year low.
On a more positive note, Helmersson said inflation on some raw materials like cotton and also on transport may have reached a peak — even though currency effects could keep prices rising next quarter.
“There’s still quite a lot of uncertainty, but it looks like it has peaked and is slowly but surely leveling out,” Helmersson said. “The biggest factor affecting us going forward is the US dollar.”