H&M's net sales increases 11% to SEK 232,764 mn in 2019

16 Dec '19

1 min read

Pic: H&M

The H&M group’s net sales increased by 11 per cent to SEK 232,764 million ($24850.70) in financial year 2019. In local currencies, net sales rose 6 per cent. In fourth quarter of 2019, i.e during the period September 1 to November 30, 2019, H&M’s net sales increased by 9 per cent to SEK 61,704 million ($6587.74). In local currencies, net sales rose 5 per cent.

Sales development for the quarter compared with the previous year was affected by calendar effects, mainly because Black Friday this year fell a week later, i.e just before the end of the month of November. Therefore, some of the big Black Friday online sales will not be recognised until December. The amount in question is expected to be approximately SEK 500 million. Adjusted for this amount, sales in SEK in the fourth quarter 2019 increased by 10 per cent and in local currencies by 6 per cent compared with the previous year.

The full-year report for 2019, i.e December 1, 2018—November 30, 2019, will be published on January 30, 2020.

Fibre2Fashion News Desk (PC)

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