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H&M posts 11 percent increase in Q4 sales

By Prachi Singh



Image: H&M image gallery

Net sales at H&M Group in local currencies increased by 11 percent in the fourth quarter 2021 compared with the corresponding period last year.

The company said in a statement that for the 2021 financial year net sales increased by 12 percent in local currencies. Converted to SEK, net sales increased by 8 percent to 56,813 million Swedish krona in the fourth quarter and net sales increased by 6 percent to 198,967 million Swedish krona in the full year.

The company added that 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.

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