H & M Hennes & Mauritz AB Nine-month report
Nine months (1 December 2021 – 31 August 2022) · The H&M group’s net sales in SEK increased by 13 percent in the first nine months of the financial year to SEK 161,120 m (142,154). In local currencies the increase was 8 percent. · As communicated previously, a one-time cost for winding down the Russian operations has impacted the results for the period. · The gross margin excluding the one-time cost for Russia was 51.3 percent (51.8).The reported gross margin was 51.1 percent (51.8). · Operating profit excluding the one-time cost for Russia was SEK 8,099 m (8,996) and the