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H&M boosts annual profit despite sales decline

Swedish apparel group Hennes & Mauritz AB experienced a slight decline in sales for the 2024/25 fiscal year. This was primarily due to adverse market conditions and negative currency effects. However, the company improved its profit thanks to successful cost-saving measures. This was revealed in the latest annual report, which the parent company...

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H&M's Q3 sales fall but profit rises due to cost cuts

Swedish fashion group Hennes & Mauritz AB (H&M) experienced a decline in sales in the third quarter of the 2024/25 financial year. The company did, however, manage to significantly increase its profit. This was announced in a business report published on Thursday by the parent company of brands such as H&M, Cos, Monki, Weekday, & Other Stories...

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H&M reports sales and profit recovery in Q2

The H&M group’s net sales in local currencies increased by 75 percent in the second quarter compared with the corresponding period last year. Converted into SEK, the company said, net sales amounted to 46,509 million Swedish krona in the second quarter. Net sales in the six-month period increased by 12 percent in local currencies, while...

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H&M’s Q2 sales surge by 75 percent

In the second quarter 2021, the H&M group’s net sales increased by 75 percent in local currencies compared with the corresponding period last year. The company said in a release that as a result of the strengthening of the Swedish krona the increase was 62 percent converted to SEK and amounted to 46,509 million Swedish krona. The company added...

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Monki launches new app

H&M Group-owned brand Monki has launched a new app with a focus on community interaction as well as offering inspiration and services to help customers make their clothes last longer. With a feature called M.IN.T Care, users can order wash, repair or redesign services directly from the app to help care for and repair their clothing. The app also...

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Temporary store closures affect H&M sales, drop by 21 percent

In the first quarter 2021, the H&M group recorded net sales decrease of 21 percent in local currencies compared with period between December 1, 2019 to February 29, 2020. Converted to SEK, the company said in a statement, the group’s net sales amounted to 40,060 million Swedish krona compared to 54,948 million Swedish krona. The company added...

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H&M reports drop in full year sales and profit

The H&M group’s net sales amounted to 187,031 million Swedish krona in the 2020 financial year. In local currencies, net sales decreased by 18 percent. The company said, sales development was significantly negatively affected by the pandemic, particularly in the second quarter when stores were temporarily closed in most markets; at the most,...

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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...

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H&M expects to post profit in Q3

In the third quarter 2020, for the period June 1, 2020 to August 31, 2020, the H&M group’s net sales decreased by 16 percent in local currencies compared with the corresponding period last year. Converted to SEK, the company said in a statement, net sales decreased by 19 percent to 50,870 million Swedish krona (5,807 million dollars). The...

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H&M reports Q2 loss, H1 turnover drops by 23 percent

Net sales at Hennes & Mauritz AB (H&M) decreased by 50 percent to 28,664 million Swedish krona (3,070.5 million dollars) in the second quarter. Also in local currencies, net sales decreased by 50 percent. Net sales in the six-month period decreased by 23 percent to 83,612 million Swedish krona (8,956.8 million dollars), while in local currencies...

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H&M reports 50 percent drop in Q2 sales

In the second quarter to May 31, 2020, the H&M group’s net sales decreased by 50 percent to 28,664 million Swedish krona (3,050 million dollars) compared with the corresponding period last year. In local currencies, the company said in a statement, net sales also decreased by 50 percent. Online sales during the quarter under review, increased by...

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Hit by Covid-19, H&M sales fall by 57 percent

The H&M group’s total sales during the period March 1 to May 6 this year decreased by 57 percent in local currencies compared with the same period in 2019. Online sales, the company said in a statement, which are open in 46 of the company’s 51 online markets, increased by 32 percent in the same period. Around 80 percent of the group’s stores...