Net sales of the H&M Group in local currencies increased by 14 percent during the third quarter 2021, i.e., in the period 1 June 2021 to 31 August 2021, compared with the corresponding period in 2020. Converted to SEK, net sales increased by 9 percent to SEK 55,585* m (50,870).
The Group’s strong recovery continues with more full-price sales and good cost control. The group’s sales development continued to be affected by the ongoing pandemic, with considerable variation between markets. Lockdowns and restrictions continued to hamper development, particularly in Asia. However, as restrictions eased, sales in store picked up in many markets while online sales continued to increase.
The brand shut 180 stores temporarily. Stores that remained open operated with restrictions on opening hours, number of customers and store space. Most of the H&M group’s markets still had restrictions resulting in reduced footfall and around 100 of the stores remained temporarily closed.