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H&M Quarterly Sales Rise 8%, Returning to Pre-Pandemic Level

H&M store in Manhattan, New York. Shutterstock.
H&M's results for the September to November quarter were in line with expectations. (Shutterstock)

Sweden’s H&M, the world’s second-biggest fashion retailer, reported on Wednesday an increase in September through November sales that was in line with expectations.

Net sales were up 8 percent year-on-year at 56.8 billion crowns ($6.22 billion), matching the mean forecast in a Refinitiv poll of analysts.

Measured in local currencies, sales increased 11 percent.

“Despite continued restrictions and the negative consequences of the pandemic, the H&M group’s sales in local currencies were back at the same level as in the fourth quarter of 2019,” the company said in a statement.

At the end of the quarter around 115 stores were temporarily closed due to restrictions, against around 100 at the start of the quarter.

By Anna Ringstrom; Editing by Niklas Pollard

Learn more:

Why Big Retailers Are Finally Taking Resale Seriously

H&M is the latest to enter the space, with a marketplace launched Sept. 7 in Canada. The fast fashion behemoth sees an opportunity to bring in new customers and burnish its sustainability credentials. But it has plenty of competition.


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