The H&M group’s sales development in the third quarter
Net sales in local currencies increased by 14 percent in the third quarter 2021, i.e., in the period 1 June 2021 to 31 August 2021, compared with the corresponding period in 2020. Converted to SEK, net sales increased by 9 percent to SEK 55,585* m (50,870).
The H&M group’s strong recovery continues with more full-price sales and good cost control. Sales development continued to be affected by the ongoing pandemic, with considerable variation between markets. Lockdowns and restrictions have continued to hamper development, particularly in Asia. However, as restrictions have been eased, sales in store have picked up in many markets while online sales have continued to increase. Excluding Asia and Oceania, sales in local currencies were back at the same level as before the pandemic.
At the start of the third quarter around 180 stores were temporarily closed. The open stores have had restrictions on, for example, opening hours, number of customers and store space. At the end of the quarter most of the H&M group’s markets still had restrictions resulting in reduced footfall and around 100 of the stores remained temporarily closed.
* The amount is provisional and may deviate slightly from the nine-month report, covering the period 1 December 2020 – 31 August 2021, that will be published on 30 September 2021.
Communication in conjunction with the nine-month report The nine-month report, i.e., 1 December 2020 – 31 August 2021, will be published at 08:00 CEST on 30 September 2021 and will be followed by a telephone conference at 09:00 CEST for the financial market and media hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge. The telephone conference will be held in English.
For log in details for the telephone conference please register at hmgroup.com or via this link: http://emea.directeventreg.com/registration/6370107.
To book interviews with CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge in conjunction with the nine-month report on 30 September 2021, please contact: Kristina Stenvinkel, telephone: +46 8 796 39 08, email@example.com.
Helena Helmersson, CEO
|Nils Vinge, Head of IR||+46 8 796 52 firstname.lastname@example.org|
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The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014. The information was submitted for publication by the abovementioned person at 08:00 CEST on 15 September 2021. This press release, along with additional information about the H&M group, is available at hmgroup.com.
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 COS, Monki, Weekday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 53 online markets and approximately 4,850 stores in 75 markets including franchise markets. In 2020, net sales were SEK 187 billion. The number of employees amounts to approximately 153,000. For further information, visit hmgroup.com.