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December 15, 2021

H&M Q4 sales back at pre-pandemic levels

Swedish fashion retailer H&M Group says its fourth-quarter sales in local currencies are back at pre-pandemic levels.

By Beth Wright

In a sales update today (15 December), H&M Group notes net sales in local currencies increased by 11% for the three months ended 30 November, compared with the corresponding period last year.

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“The H&M Group’s strong recovery continues. Customers are showing that they appreciate the collections and being able to shop where, when and how they choose. 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 retailer says.

Converted to SEK, net sales increased by 8% to SEK56.81bn (US$6.24bn) from SEK52.55bn a year prior.

At the beginning of the quarter, about 100 stores were temporarily closed, mainly in South-East Asia. At the end of the period, about 115 stores remained temporarily closed, mostly in Austria and Slovakia.

For the 2021 financial year, net sales increased by 12% in local currencies. Converted to SEK, net sales rose 6% to SEK198.97bn from SEK187.03bn a year earlier.

H&M Group will publish its full-year report, covering the period 1 December 2020 – 30 November 2021, on 28 January 2022.

The retailer recently unveiled a new circular design tool to help meet its ambition to have all its products designed for circularity by 2025 – and revealed plans to open source it to the industry in the future.

Circulator not only aims to enable H&M Group’s own teams to create products fit for a circular economy but will in the long-term invite others to do the same.

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Free Report
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How can brands navigate the post-COVID-19 Apparel market?

In 2021, the Global Apparel market remained at 3% below pre-pandemic levels, with Europe and LATAM lagging behind. If they want to see full recovery, brands must look ahead. GlobalData is therefore offering this free report, Future of the Apparel Market Post Pandemic, to assist companies in adapting to the future market. This report explores the following topics:
  • Latest forecasts for the online apparel market out to 2025
  • How different regions and categories will perform, including which regions are lagging behind and which are performing at pre-pandemic levels
  • Which categories within the Apparel market are displaying resilience
  • Which brands are driving online spending
  • Impact of inflation on the Global Apparel market
  • What the biggest trends are that apparel businesses must adopt to succeed
Read our report on the Future of the Apparel Market Post Pandemic to gain valuable insights on how to best position your brand in a post-COVID-19 world.
by GlobalData
Enter your details here to receive your free Report.

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