INTERIM REPORT 1 December 2001 – 28 February 2002

• Group turnover for the period amounted to SEK 11,246 m (9,634), an increase of 17 per cent compared to last year. With comparable exchange rates, the increase was 11 per cent.

• Gross profit increased by 35 per cent. Gross margin was 52.9 per cent (45.8).

• Profit after financial items amounted to SEK 1,180 m (571), an increase of 107 per cent.

• Improved result in all countries compared to the previous year.

• Profit per share after estimated tax was SEK -.93 (-.45).

• Sales development for the month of February was 16 per cent with comparable exchange rates.

Contact persons:

Rolf Eriksen, CEO
+46 8 796 52 33

Carl-Henric Enhörning, IR
+46 8 795 54 10

Leif Persson, CFO
+46 8 796 13 00

Switchboard
+46 8 796 55 00

Information about H&M and press photographs are available at www.hm.com