THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Sales at H&M return to pre-pandemic level in fourth quarter

H&M Group has shared their latest sales report which indicates a strong recovery as sales in the September to November period matched 2019 pre-pandemic levels. The Swedish fashion… View Article

FASHION

Sales at H&M return to pre-pandemic level in fourth quarter

H&M Group has shared their latest sales report which indicates a strong recovery as sales in the September to November period matched 2019 pre-pandemic levels.

The Swedish fashion retailer reported that net sales for the fourth quarter increased up 8% to SEK56.81 billion (£4.69bn), while net sales in local currencies rose by 11%.

For the 2021 financial year, net sales increased by 12% in local currencies. Converted to Swedish crowns, net sales increased by 6% to SEK198.967 billion (£16.44bn).

The company commented in a statement: “The H&M group’s strong recovery continues. Customers are showing that they appreciate the collections and being able to shop where, when and how they choose. Despite continued restrictions and the negative consequences of the pandemic, the H&M group’s sales in local currencies were back at the same level as in the fourth quarter of 2019.”

H&M Group has temporarily closed around 115 stores, mostly in Austria and Slovakia, due to Covid-19 restrictions. The company temporarily closed around 100 stores, mainly in South-East Asia at the beginning of the quarter.

The group said that it will issue its complete full-year report on 28 January 2022.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News