Summer collections cause sharp increase in turnover in H&M Group

H&M Group

In the third quarter, H&M Group recorded a 12% increase in sales. Taking into account constant exchange rates, the increase was 8%. And it was all thanks to a good summer. 

 

Successful summer collections

H&M Group, the group that includes H&M, Monki and Weekday, among others, realised in the third quarter of the split financial year (period from June 1 to August 31) a turnover of 62.6 billion Swedish kroner (5.86 billion euros). In the same period last year, revenues amounted to SEK 55.8 billion (EUR 5.23 billion). In a brief statement, the company said that the summer collections were well received and that the group was able to expand its market share.

 

H&M also added that "activity levels linked to its transformation project”—efforts aimed at revitalising its operations—remained high over the quarter. This is an indication that investments in physical stores and online, once more weighed on the margins. On the stock exchange, the group's share has already fallen by more than 3.5%.

 

On 3 October, H&M Group will present its full quarterly figures.