Net sales of Swedish textile chain Hennes & Mauritz (H&M) reached 198,967 million crowns (, 19,351 million) at the end of the financial year, ending November 30, up 6% from the previous year. The company said.
Taking into account the impact of the exchange rate, between December 2020 and November 2021 the Scandinavian company’s net sales increased by 12% over the previous year.
In the fourth quarter of its fiscal year, H&M’s net sales of 56,813 million Swedish crowns (, 5,525 million) increased by 8% between September and November 2020. In local currency, net sales of the chain increased by 11% year-on-year. Year.
“The H&M Group’s strong recovery continues,” the company noted, adding that the group’s sales in local currencies returned to the same level as in the fourth quarter of 2019.
“Customers appreciate the collections and can buy where, when and how they choose,” he added.
H&M, which releases its annual accounts on January 28, has closed about 115 stores, most of them in Austria and Slovakia, by the end of its fourth fiscal quarter.
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