Swedish brand H&M’s sales climb 17% in Q2FY22

In the second quarter (Q2) of fiscal 2022, the web sales of Swedish style brand H&M elevated by 17 per cent to SEK 54,504 mn (46,509). In native currencies the rise was 12 per cent. In the primary half of fiscal 2022, the H&M group’s internet sales in SEK elevated by 20 per cent to SEK 103,670 mn (86,569). In native currencies the rise was 15 per cent.

Gross revenue rose to SEK 29,846 mn (25,049) in the second quarter. This corresponds to a gross margin of 54.8 per cent (53.9). The well-received collections led to prices for markdowns lowering by round 1 share level in relation to sales, H&M stated in a press launch.

In the second quarter of fiscal 2022, the web sales of Swedish style brand H&M elevated by 17 per cent to SEK 54,504 mn (46,509). In native currencies the rise was 12 per cent. In the primary half of fiscal 2022, the H&M group’s internet sales in SEK elevated by 20 per cent to SEK 103,670 mn (86,569). In native currencies the rise was 15 per cent.

Sales in June 2022 is predicted to lower by 6 per cent in native currencies in contrast with June 2021. The paused sales in Russia, Belarus and Ukraine characterize 5 share factors of the lower. The June determine must be seen in the sunshine of a really robust comparability base in June 2021, a rise by 24 per cent, whereas July and August elevated by 6 per cent.

H&M is accelerating its enlargement in Latin America. A lot of leases have been signed for brand spanking new shops.

“The H&M group’s sales increase in the quarter is a result of well-received collections with increased full-price sales and lower markdowns. With a well-positioned customer offering, combined with physical and digital sales channels that strengthen each other, we are fully focused on meeting customers’ ever-increasing expectations of affordable and sustainable fashion,” stated Helena Helmersson, CEO.

“To navigate in a rapidly changing world it is more important than ever to be flexible and able to make quick decisions. As a direct consequence of the challenges in the world around us we are carrying out extensive work to prioritise initiatives, redistribute resources and ensure continued good profitability. We have a well-positioned customer offering and are fully focused on meeting customers’ ever-increasing expectations. Despite the significant inflation in the world, customers must always feel confident that with all the H&M group’s brands they will find the best combination of fashion, price, quality and sustainability. With a strong customer focus, committed colleagues and a robust financial position we see good opportunities for profitable, long-term and sustainable growth,” defined Helmersson.

Fibre2Fashion News Desk (RR)