H&M posts sales increase of 12 percent

Net sales at H&M Group increased by 12 percent to 54,872 million Swedish krona in the first quarter, compared with the corresponding period last year.

In local currencies, the company said, net sales increased by 3 percent. Excluding Russia, Belarus and Ukraine the increase was 16 percent in Swedish krona and 7 percent in local currencies.

The company added that the three-month report to February 28, 2023, will be published on March 30, 2023.