The H&M group’s sales development in the second quarter and beginning of June 2020
In the second quarter 2020, i.e. in the period 1 March 2020 to 31 May 2020, the H&M group’s net sales decreased by 50 percent to SEK 28,664* m (57,474) compared with the corresponding period last year. In local currencies net sales decreased by 50 percent. Online sales increased by 36 percent in SEK and 32 percent in local currencies during the same period. The sales development during the second quarter was severely affected by the Covid-19 situation. In most markets, stores had to be temporarily closed and in the middle of April around 80 percent of the group’s stores were temporarily