INTERIM REPORT 1 December 1999 - 31 August 2000

The period in brief:

• Group turnover for the nine months period amounted to SEK 25,428 M
(SEK 23,549 M), an increase of 8 per cent compared with the same period
last year. In comparable currencies 13 per cent.

• Profit after financial items was SEK 2,613 M (SEK 3,209 M), a
decrease of 19 per cent compared with the same period last year, mainly
due to price reductions, larger than usual, of SEK 375 M.

• Turnover for the third quarter amounted to SEK 8,186 M (SEK 7,866
M), an increase of 4 per cent (in comparable currencies 7 per cent)
compared with the third quarter 1999. Profit after financial items was
SEK 800 M (SEK 1,160 M).

• Measures to reduce costs have had an effect during the third
quarter. Operating expenditures will be reduced by SEK 500 M on an
annual basis.

• The balance of the assortment mix - the relation between very high
and basic fashion - has been corrected.

• Customer response in the USA continues to exceeded expectation.

• The autumn collection has been well received. Q4 sales has started
well.

Contact persons:

Rolf Eriksen
+46 8 796 5233

Jan Jacobsen
+46 8 796 5401

Carl-Henric Enhörning
+46 8 796 5410

Leif Persson
+46 8 796 1300

H&M switchboard
+46 8 796 5500

About Us

H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands & Other Stories, Cheap Monday, COS, Monki and Weekday as well as H&M Home. The H&M Group has more than 4,300 stores in 64 markets including franchise markets. In 2016, sales including VAT were SEK 223 billion and the number of employees is more than 161,000. For further information, visit hm.com.

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