Companies

H&M will announce full year results next month

Dec 16, 2021 Sweden

The Sweden-based fashion group has released its sales development for the full year of 2021, including its fourth quarter. The full report will be published on the 28th of January 2022

In the fourth quarter of fiscal 2021, ended on the 30^th of November, net sales in local currencies increased by 11%, as compared to the same period of last year, reaching 56.8 billion Swedish krona (5.3 billion euros). As for the financial year of 2021, which ran from the 1^st of December to the 30^th of November, net sales have increased by 12% in local currencies, totalling 199.0 billion Swedish krona (18.7 billion euros).

“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”, it can be read on a statement.

The group added that at the beginning of the fourth quarter 100 stores were temporarily closed, mainly in South-East Asia, and that at the end of the quarter around 115 stores remained temporarily closed, mostly in Austria and Slovakia.

Image Credits: about.hm.com

Sweden Companies Fashion Footwear Quarter Results Results Retail Sales