First quarter (
- The
H&M group's net sales in local currencies increased by 18 percent in the first quarter. Converted into SEK the group's net sales increased by 23 percent toSEK 49,166 m (40,060). - Well-received collections led to a higher share of full-price sales and lower costs for markdowns. At the same time, sales and profits for the quarter were impacted by the negative effects of the pandemic in many of the group's major markets. The result was also affected by increased growth-related initiatives, particularly within tech and the supply chain.
-
Gross profit increased to
SEK 24,260 m (19,057). This corresponds to a gross margin of 49.3 percent (47.6). -
Operating profit increased to
SEK 458 m (-1,128), corresponding to an operating margin of 0.9 percent (-2.8). For rolling 12 months the operating margin was 8.1 percent (-0.4). -
The group's profit after tax increased to
SEK 217 m (-1,070), corresponding toSEK 0.13 (-0.65) per share. -
Cash flow from operating activities amounted to
SEK 3,624 m (5,936). -
Financial net cash increased to
SEK 17,446 m (2,199). Cash and cash equivalents plus undrawn credit facilities amounted toSEK 42,848 m (42,432).
- The
H&M group has paused all sales inRussia ,Belarus andUkraine . In total 185 stores as well as online sales inRussia are affected. -
Net sales in the period
1-28 March 2022 increased by 6 percent in local currencies compared with the corresponding period last year. ExcludingRussia ,Belarus andUkraine the increase was 11 percent. H&M continues to expand into more markets. In March the firstH&M store inCambodia was successfully opened via franchise. Further newH&M markets in 2022 will beEcuador ,Kosovo andNorth Macedonia , and via franchiseCosta Rica andGuatemala . In 2023H&M plans to open its first store inAlbania .-
The
H&M group is integrating its annual and sustainability report, which is published today. The report presents our further strengthened climate goals, a threefold increase in the use of recycled materials and a substantial decrease in the use of plastic packaging. -
The annual general meeting will be held on
4 May 2022 to resolve, among other things, on the board's proposed dividend ofSEK 6.50 per share, to be paid in two instalments, and the authorisation to buy back shares for cancellation for a total amount ofSEK 3 billion .
"We are deeply concerned about the war in
Comments by
"Having ended last year with sales back at the same level as before the pandemic and in a strong financial position, we started the new year with increased initiatives to create an even better foundation for long-term growth. The initiatives mainly involve continuing to develop the customer experience by, for example, further broadening the assortment and integrating the sales channels, and by continuing to invest in infrastructure such as tech and the supply chain, but also in renewable energy and sustainable materials.
In addition to the general consequences of the pandemic such as disruptions and delays in the supply chain, some of our major markets were impacted by a new wave of the pandemic in the first quarter. Despite this we saw a recovery of sales in physical stores compared with last year, while online sales continued to perform well. This shows the value of having both physical and digital channels which strengthen and complement each other. Well-received collections led to full-price sales continuing to increase which led to more than expected decrease of markdowns.
We are deeply concerned about the war in
Other than effects associated with the paused sales in
The
Communication in conjunction with the three-month report
The three-month report, i.e.
For log in details for the telephone conference please register at hmgroup.com or via this link: http://emea.directeventreg.com/registration/3588167.
To book interviews in conjunction with the three-month report on
Iñigo Sáenz Maestre, Head of Media Relations, telephone +46 72 980 53 52, inigo.saenz@hm.com.
Contact
SE-106 38 Stockholm
Phone: +46-8-796 55 00, e-mail: info@hm.com
Registered office:
For more information about the
Information in this interim report is that which
https://news.cision.com/h---m-hennes---mauritz-ab/r/h---m-hennes---mauritz-ab-three-month-report,c3536471
https://mb.cision.com/Main/769/3536471/1556925.pdf
(c) 2022 Cision. All rights reserved., source