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.

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