H&M posts quarterly sales jump helped by restrictions easing

Online sales have been doing well even if shops were open

H&M posts quarterly sales jump helped by restrictions easing

H&M has posted a huge increase in quarterly sales helped by the easing of restrictions across its markets, though they remain below pre-pandemic levels.

The Swedish fashion giant is now eyeing recovery as vaccine rollouts progress, with online sales developing “very well” even if stores are open.

At the start of the second quarter around 1,300 stores were temporarily closed while those that were open faced limitations on opening hours, number of customers and store space.

In some of the group’s largest markets such as France and Germany the stores were closed continuously almost throughout the quarter.

At the end of the period, most of the H&M group’s markets still had restrictions resulting in reduced footfall and around 140 of the stores globally remained temporarily closed.

In the three months to 31 May, net sales climbed 75% in local currencies or 62% in Swedish krona, which strengthened over the period, to 46.5bn crowns (£3.9bn).

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Hochschild Mining reveals 'profitable' PEA on its heavy rare earths project...

Hochschild Mining Head of Investor Relations Charles Gordon joined Proactive New York to discuss the Peru-based gold and silver miner's recent developments within its heavy rare earths project, recently renamed Aclara. Gordon says the group recently revealed a preliminary economic assessment...

14 hours, 34 minutes ago

2 min read