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June 16, 2022

H&M Group sales rise 12% in Q2

Swedish fashion retailer H&M Group has continued its momentum in the second quarter, building on its sales rise at the start of the year.

By Beth Wright

Net sales in local currencies increased by 12% in the second quarter which spans the period from 1 March to 31 May, compared with the corresponding period last year.

Converted to SEK, net sales rose by 17% to SEK54.5bn (US$5.3bn) on a provisional basis, H&M Group said. This compares to SEK46.51bn in the prior-year period.

The group, which in addition to its namesake brand includes the brands Cos, Monki, Weekday, & Other Stories, H&M Home and Arket as well as Afound, booked an 18% rise in the first quarter of the year.

The sales rise came after the Swedish company said in December its fourth-quarter sales in local currencies are back at pre-pandemic levels.

Meanwhile, this week H&M Group said it is ending its Treadler initiative because the scheme has not been growing fast enough to continue.

H&M launched Treadler in 2020 as a business-to-business initiative that would enable clients to benefit from H&M Group’s expertise, long-term supplier partnerships and strategic sustainability work.

But the service is now being discontinued.

“Treadler has in a short time generated valuable learnings to the group and established lots of meaningful relationships,” said H&M Group in comments shared with Just Style. 

H&M Group will publish its six-month report, covering the period 1 December 2021 – 31 May 2022, on 29 June.

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