The H&M group’s sales development in the third quarter 2023
Net sales increased by 6 percent to SEK 60,897* m (57,450) in the third quarter, i.e., in the period 1 June 2023 – 31 August 2023, compared with the corresponding period last year. In local currencies, net sales were flattish compared with last year. Excluding Russia, Belarus and Ukraine the increase was 8 percent in SEK.
The work towards the company’s goal of reaching a 10 percent operating margin in 2024 is going in the right direction. Profitability and inventory levels have been prioritised in the quarter.
* The amount is provisional and may deviate slightly from the nine-month report that will be published on 27 September 2023.
| Contact: | ||
| Joseph Ahlberg, Head of IR | +46 73 465 93 92 | joseph.ahlberg@hm.com |
| H&M Group Media Relations | +46 8 796 53 00 | mediarelations@hm.com |
Communication in conjunction with the nine-month report
The nine-month report, i.e., 1 December 2022 – 31 August 2023, will be published at 08:00 CEST on 27 September 2023, followed by a telephone conference at 09:00 CEST for the financial market and media. The telephone conference will be held in English, hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Joseph Ahlberg.
For log in details for the telephone conference please register at hmgroup.com or via this link:
https://app.webinar.net/rOKYX27mkWx
To book interviews in conjunction with the nine-month report on 27 September 2023, please contact: Anna Frosch Nordin, Head of Media Relations, telephone +46 73 432 93 14, anna.froschnordin@hm.com.
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 2023. This press release, press images 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, ARKET and Afound as well as Sellpy. For further information, visit hmgroup.com.