The H&M group’s sales development for full-year 2020 including the fourth quarter
In the fourth quarter 2020, i.e. in the period 1 September 2020 to 30 November 2020, the H&M group’s net sales decreased by 10 percent in local currencies compared with the corresponding period last year. For the 2020 financial year net sales decreased by 18 percent in local currencies. Converted to SEK the group’s net sales amounted to SEK 52,543 m (61,694) in the fourth quarter 2020. For full-year 2020 net sales amounted to SEK 187,025 m (232,755).
2020 – a year marked by the Covid-19 pandemic
The H&M group started the year strongly and with a positive momentum until the first wave of Covid-19 had an impact. Extensive social restrictions involving temporary store closures and large drops in customer footfall to physical stores led to a substantial decrease in sales, particularly in the second quarter.
A strong recovery in the third quarter continued for much of the fourth quarter. Between 1 September and 21 October sales decreased by 3 percent in local currencies compared with the same period last year. Between 22 October and 30 November sales decreased by 22 percent compared with the corresponding period last year, as the recovery transitioned into a new slowdown as a result of the pandemic’s second wave.
Communication in conjunction with the full-year report
The full-year report for the 2020 financial year, i.e. 1 December 2019 – 30 November 2020, will be published at 08:00 CET on 29 January 2021 and will be followed by a digital press conference at 09:00 CET for the financial market and media hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge. The press conference will be held in English. Presentation material will be available at hmgroup.com.
To book interviews in conjunction with the full-year report on 29 January 2021 please contact:
Kristina Stenvinkel, Communications Director, telephone: +46 8 796 39 08, e-mail: stenvinkel@hm.com.
Helena Helmersson, CEO
| Contact persons: | ||
| Nils Vinge, Head of IR | +46 8 796 52 50 | nils.vinge@hm.com |
| Kristina Stenvinkel, Communications Director | +46 8 796 39 08 | stenvinkel@hm.com |
The amounts are provisional and may deviate slightly from the full-year report, covering the period 1 December 2019 – 30 November 2020, that will be published on 29 January 2021.
For more information from the H&M group and press images visit hmgroup.com/media.
| The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under the EU Market Abuse Regulation (596/2014 /EU). The information was submitted for publication by the abovementioned person at 08.00 CET on 15 December 2020. This press release, along with additional information about the H&M group, is available at hmgroup.com. |
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 52 online markets and approximately 5,000 stores in 74 markets including franchise markets. In 2019, net sales were SEK 233 billion. The number of employees amounts to approximately 179,000. For further information, visit hmgroup.com.