#Textiles & Apparel / Garment

2021-06-17

The H&M group’s sales development in the second quarter and early June 2021

In the second quarter 2021, i.e. in the period 1 March 2021 to 31 May 2021, the H&M group’s net sales increased by 75 percent in local currencies compared with the corresponding period last year. As a result of the strengthening of the Swedish krona the increase was 62 percent converted to SEK and amounted to SEK 46,509* m (28,664).

Sales development was continuously affected by the ongoing pandemic. At the start of the second quarter around 1,300 stores were temporarily closed. The open stores have had restrictions on, for example, 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 as a consequence of the extended restrictions. At the end of the quarter 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.

As more people are vaccinated a number of markets have gradually allowed stores to reopen and the H&M group’s strong recovery continues. Online sales have continued to develop very well, even as the stores have opened. This shows that customers appreciate the collections and being able to shop via their preferred channel.

Sales in the period 1-13 June 2021 increased by 35 percent in local currencies compared with the same period in 2020 and by 2 percent compared with the same period in 2019.

Most markets in the H&M group are still subject to restrictions and on 13 June around 180 stores were temporarily closed; all 50 stores in Malaysia, for example, had to close at the beginning of the month.

* The amount is provisional and may deviate slightly from the six-month report, covering the period 1 December 2020 – 31 May 2021, that will be published on 1 July 2021.

Communication in conjunction with the six-month report?

The six-month report, i.e. 1 December 2020 – 31 May 2021, will be published at 08:00 CEST on 1 July 2021 and will be followed by a telephone conference at 09:00 CEST for the financial market and media hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge. The telephone conference will be held in English.

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