Nine months (
The
H&M group's net sales in local currencies increased by 13 percent in the first nine months of the financial year compared with the corresponding period last year. Converted into SEK the group's net sales amounted toSEK 142,154 m (134,482). The pandemic led to reduced footfall as a result of continued restrictions and store closures. At the most, around 1,800 stores were temporarily closed.Profit after financial items increased to
SEK 8,297 m (-1,613). The group's profit after tax amounted toSEK 6,389 m (-1,242), corresponding toSEK 3.86 (-0.75) per share.Cash flow from operating activities increased to
SEK 37,210 m (15,995).Financial net cash increased to
SEK 24,874 m (-5,853). Cash and cash equivalents plus undrawn credit facilities amounted toSEK 55,408 m (41,413).
Third quarter (
The
H&M group's net sales in local currencies increased by 14 percent in the third quarter 2021 compared with the corresponding period last year. Converted into SEK net sales increased toSEK 55,585 m (50,870). At the start of the quarter around 180 stores were temporarily closed and at the end around 100 stores remained closed.Online sales increased by 22 percent in local currencies and 17 percent in SEK.
Store sales have started to recover as restrictions have been eased in many markets.
Gross profit increased by 19 percent to
SEK 29,559 m (24,851). This corresponds to a gross margin of 53.2 percent (48.9).Profit after financial items increased by 158 percent to
SEK 6,093 m (2,365).The operating margin was 11.3 percent (5.3).
Profit after tax increased to
SEK 4,692 m (1,821), corresponding toSEK 2.83 (1.10) per share.The stock-in-trade decreased to
SEK 36,867 m (42,076).The board of directors is proposing that a cash dividend of
SEK 6.50 per share is paid inNovember 2021 . This is based on significantly improved profitability, a strong financial position with financial net cash ofSEK 24,874 m, more stable market conditions and a good outlook. There has been no resolution on a dividend since spring 2019. A dividend proposal inJanuary 2020 was withdrawn inMarch 2020 due to the pandemic.The new autumn collections have been well received. Sales in
September 2021 were slightly higher than in the corresponding month the previous year in local currencies, even though demand was not able to be fully met because of disruption and delays in product flow. Currently around 50 stores are temporarily closed.H&M online will launch inChile in autumn 2021 and inPeru ,Colombia andUruguay in the first half of 2022.Five new
H&M markets will launch in 2022.Ecuador ,North Macedonia andKosovo , and via franchise inCosta Rica andCambodia .
"The
Comments by
"The
To further strengthen our competitiveness the group continues to work to constantly improve both the customer offering and the customer experience in response to customers' increased expectations, such as being able to shop in a smooth and convenient way - when, where and how they choose.
Our customer offering makes it possible for many to access sustainable fashion and express their own personal style. Our financial strength and long-term approach give us the ability to invest in innovations within tech development, materials and sustainable initiatives, with an ambition to lead the change in the fashion industry towards becoming circular and renewable. This was recognised recently when the
The pandemic and its consequences are not yet over and we are humbled by the many challenges in the world around us that affect our business, which call for a high level of flexibility and drive. We have quickly adapted by prioritising cash flow, cost control and flexibility. With our continued transformation and our well-positioned customer offering - to meet customers' ever increasing expectations of good value and sustainable fashion - we are optimistic that we will see long-term, profitable and sustainable growth for the
Communication in conjunction with the nine-month report
The nine-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/6370107.
To book interviews with CEO
Contact
SE-106 38 Stockholm
Phone: +46-8-796 55 00, fax: +46-8-20 99 19, 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-nine-month-report,c3424259
https://mb.cision.com/Main/769/3424259/1475199.pdf
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