The H&M group’s sales development in the first quarter and early March 2021
In the first quarter 2021, i.e. in the period 1 December 2020 to 28 February 2021, the H&M group’s net sales decreased by 21 percent in local currencies compared with 1 December 2019 to 29 February 2020. Converted to SEK the group’s net sales amounted to SEK 40,060* m (54,948).
Sales development was significantly affected by the Covid-19 situation, with extensive restrictions and at most over 1,800 stores temporarily closed. Since the beginning of February, a number of markets have gradually allowed stores to reopen and at the end of the quarter around 1,300 stores remained temporarily closed. Online sales have continued to develop very well.
Since Germany, the H&M group’s largest market, and other countries have begun allowing certain stores to reopen, the number of temporarily closed stores in the group amounted to around 900 on 13 March. Sales in the period 1–13 March this year increased by 10 percent in local currencies compared with the same period in 2020.
* The amount is provisional and may deviate slightly from the three-month report, covering the period 1 December 2020 – 28 February 2021, that will be published on 31 March 2021.
Communication in conjunction with the three-month report
The three-month report, i.e. 1 December 2020 – 28 February 2021, will be published at 08:00 CEST on 31 March 2021 and will be followed by a telephone conference at 09:00 CEST for the financial market and media hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge. The telephone conference will be held in English.
For log in details for the telephone conference please register at hmgroup.com or via this link:
To book interviews with CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge in conjunction with the three-month report on 31 March 2021, please contact: Kristina Stenvinkel, telephone: +46 8 796 39 08, e-mail: email@example.com.
Helena Helmersson, CEO
|Nils Vinge, Head of IR||+46 8 796 52 firstname.lastname@example.org|
|Media Relations||+46 8 796 53 email@example.com|
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 March 2021. 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 2020, net sales were SEK 187 billion. The number of employees amounts to approximately 153,000. For further information, visit hmgroup.com.|