H&M Group’s sales in Q4'21 back at the same level as in 'Pre-Pandemic Levels'

H&M Group revealed that net sales in local currencies increased by 11% year on year in the fourth quarter of 2021, from September 2021 to 30 November 2021.

For the 2021 financial year, net sales increased by 12% in local currencies. Converted to Swedish Krona (SEK), net sales increased by 8% to SEK 57bn (£4.7bn) in the fourth quarter of 2021. For the full-year 2021 net sales increased by 6% to SEK 199 bn (£16.5bn).

Despite continued restrictions and the negative consequences of the pandemic, H&M Group’s sales in local currencies were back at the same level as in the fourth quarter of 2019. At the beginning of the quarter, around 100 stores were temporarily closed, mainly in South-East Asia. At the end of the quarter, around 115 stores remained temporarily closed, mostly in Austria and Slovakia.

H&M Group includes Cos, & Other Stories, H&M and Weekday.