From 1 March to 31 May (in this calendar year), H&M has seen a growth of 242 per cent (in local currency) in its sales. The period saw the retailer attain net sales of SEK 353 million compared to SEK 111 million attained in the same period of last calendar year.
H&M currently has 5,058 stores across the globe and India is an important market for the retailer. The retailer has 50 stores in India.
On the other hand, from 1 December 2020 to 31 May 2021, H&M’s growth was 50 per cent (in local currency) as the net sale was SEK 961 million compared to 742 million during the same period of last fiscal.
The retailer today announced its first half-year (1 December 2020 – 31 May 2021) results. Overall (across the globe), the Group noticed 12 per cent increase in its net sales (in local currencies) during this period.
“With our much-appreciated collections, our ongoing transformation and the fact that markets are gradually being opened up, our recovery is strong. Online sales have continued to develop very well even as the stores have opened, which shows that customers appreciate the collections and are able to shop via their preferred channel,” says Helena Helmersson, CEO, H&M.