×
63 339
Fashion Jobs
NIKE
Senior Product Manager, Line Planning And Merchandising
Permanent · Beaverton
NIKE
Business Success Manager – Multi-Node Inventory Planning
Permanent · Beaverton
NIKE
Product Manager – Multi-Node Inventory Planning
Permanent · Beaverton
NIKE
Product Manager, Line Planning And Merchandising
Permanent · Beaverton
NIKE
Live Consumer Direct Marketing, Global Store Marketing Manager
Permanent · Beaverton
CONVERSE
Product Integrity Manager
Permanent · Boston
NIKE
Director, Omni-Channel Marketing Solution Engineering
Permanent · Beaverton
NIKE
Product Manager, Global Sourcing Manufacturing Data Product & Reporting
Permanent · Beaverton
NIKE
Manager, Analytics & Operations, Nike Athlete Experience
Permanent · Beaverton
ULTA BEAUTY, INC.
General Manager
Permanent · Johns Creek
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Virginia Beach
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Mount Laurel Township
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Schaumburg
ULTA BEAUTY, INC.
General Manager
Permanent · Conway
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Gilbert
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Lakewood
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Pasadena
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Bristol
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Miami
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Charlotte
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Riverbank
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · St. Cloud
Published
Sep 15, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

H&M Q3 sales rise, now back at 2019 levels

Published
Sep 15, 2021

H&M Group’s Q3 sales rose 14% year-on-year (YoY), the Swedish fashion retail giant said on Wednesday. That said, the figure was in local currencies and when converted to Swedish Krona (SEK), the rise was only 9%, with total sales reaching SEK55.585 billion (€5.4bn/£4.6bn/$6.4bn).


H&M



The company said its “strong recovery continues with more full-price sales and good cost control”. But sales continued to be affected by the ongoing pandemic, “with considerable variation between markets”. Lockdowns and other restrictions “continued to hamper development, particularly in Asia”.

However, as many restrictions have been eased, sales in its stores have “picked up in many markets while online sales have continued to increase”.

What that means for most regions (apart from Asia and Oceania) is that sales in local currencies were back at pre-pandemic levels. Yet that news was accompanied by the group’s share price falling in early trading. Perhaps investors were hoping that sales would have exceeded pre-pandemic levels as rival Inditex, also releasing results on Wednesday, was able to report.

But it’s undeniable that H&M is recovering, even though it still faced challenges due to restrictions on store openings during the quarter. At the start of Q3, around 180 stores were temporarily closed. Plenty of open stores also had restrictions on things like opening hours, the number of customers allowed inside, and store space. At the end of the quarter most of the group’s markets still had restrictions resulting in reduced footfall and around 100 of its stores remained temporarily closed.

Copyright © 2021 FashionNetwork.com All rights reserved.