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H&M Sept-Nov sales rise 8%, returning to pre-pandemic level -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A view shows an H&M warehouse at Magna Park in Milton Keynes, Britain, September 26, 2021. REUTERS/Andrew Boyers/File Photo

STOCKHOLM (Reuters) -Sweden’s H&M, the world’s second-biggest fashion retailer, reported on Wednesday an increase in September through November sales that was in line with expectations.

Sales were up by 8.8% in the year-to-date at 56.8 Billion Crowns ($6.22B), matching analysts’ mean forecast.

The sales increased by 11% when they were measured in local currencies.

“Despite continued restrictions and the negative consequences of the pandemic, the H&M group’s sales in local currencies were back at the same level as in the fourth quarter of 2019,” the company said in a statement.

Around 115 shops were closed temporarily at the close of quarter, compared to around 100 at the beginning of quarter.

($1 = 9.1339 Swedish crowns

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