H&M Group’s Q4 Sales Grow 11 Percent in Local Currencies
PARIS — H&M Group reported fourth-quarter sales grew 11 percent in local currencies in the three months to Nov. 30, compared with the same period a year ago.
In reported terms, sales have grown 8 percent to 56.81 billion Swedish kronor, or $6.23 billion at current exchange. It said its sales in local currencies were back at 2019’s pre-pandemic levels.
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The Swedish fast-fashion retailer also indicated that sales for its 2021 fiscal year had grown 12 percent in local currencies, for a reported full-year total of 198.96 billion Swedish kronor, or $21.83 billion.
The company stated that its “strong recovery continues,” noting “customers are showing that they appreciate the collections and being able to shop where, when and how they choose,” despite ongoing pandemic-related closures in certain markets.
It indicated that the quarter started with some 100 stores closed, mainly in Southeast Asia, and ended with around 115 closures, this time in Austria and Slovakia.
H&M will reveal its full-year report for the 2021 financial year on Jan. 28.
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