H&M has sent customers as they tease news a massive sale is on the horizon.
According to The New York Times, the price drop is to enable the brand to sell off the whopping £3 billion worth of unsold clothes they have accumulated over the past three months.
The sale will include everything from dresses to accessories, which have yet to be snapped up.
But that is not all, slashes prices will also hit festive garments, such as Halloween costumes and Christmas-themed products.
It has been reported the sale is the companies plot to combat the alleged 62 per cent drop in profits over recent weeks, which is believed to have risen by almost 10 per cent over the past 12 months.
It is hoped the reduced price tags will help the company solve the issue.
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Speaking to the BBC about the plan, a spokesperson said: “We take a long-term view that, together with our knowledge and experience enable us to navigate through times such as this.
“We hope to go back to healthy growth in both sales and profitability.”
This news comes after the company revealed their plans to cut back on opening new stores, which has recently seen New Look and Select close down.
The company, which also look after Cos as well as & Other Stories, have strived to put more emphasis on their e-store and online site.
Customers cannot wait for the sale, although specific details of when the reduction will take place has yet to be revealed.
One social media user tweeted: “For the past three three months i’ve been stalking this $ 30 pair of shorts at H&M and waiting for them to go on sale. TODAY IT HAPPENED!!!!!!!!! $ 10 MY GUY!!!!!”, while another wrote: “The rumoured H&M sale of all the unsold clothes is the best news to wake up to on a Thursday morning, just got paid and ready to blow it all away.”