H&M’s Q4 net sales drop by 10 percent

In the fourth quarter of 2020, the H&M group’s net sales decreased by 10 percent in local currencies compared with the corresponding period last year. For the full financial year, the company said in a statement that net sales decreased by 18 percent in local currencies. Converted to SEK the group’s net sales amounted to SEK 52,543 million Swedish krona compared to 61,694 million Swedish krona in the fourth quarter 2019, while for full-year 2020 net sales amounted to 187,025 million Swedish krona compared to 232,755 million Swedish krona.