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H&M increases sales by 6% in the fiscal year to 19,351 million euros |  comp

H&M increases sales by 6% in the fiscal year to 19,351 million euros | comp

Swedish textile chain Hennes & Mauritz (H&M) had net sales of 198,967 million kronor (€19,351 million) at the end of the multinational financial year that ended November 30, which represented a 6% increase over the previous year, the company said.

Without taking into account the impact of the exchange rate, the Scandinavian company’s net sales between December 2020 and November 2021 increased by 12% compared to the previous year.

In the fourth quarter of the fiscal year, H&M net sales were SEK 56,813 million (€5,525 million), up 8% from September-November 2020. In local currency, the chain’s net sales were up 11% year-over-year. general.

The company explained that “the strong recovery of the H&M group continues,” noting that the group’s sales in local currencies returned to the same level they were in the fourth quarter of 2019.

“Customers show their appreciation for the collections and their ability to purchase wherever, whenever and how they choose,” he added.

H&M, which will publish its annual accounts on January 28, indicated that at the end of the fourth fiscal quarter, about 115 stores were still temporarily closed, mostly in Austria and Slovakia.

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