World Footwear


H&M anticipates 'flattish' sales

Sep 19, 2023 Sweden
H&M anticipates 'flattish' sales
The Sweden-based fashion group has released a sales development update for the third quarter of fiscal 2023, ahead of the publication of the nine-month report scheduled for the end of September
For the third quarter of fiscal 2023, which ended on the 31st of August, H&M is expecting its net sales to rise by 6% to 60.90 billion Swedish krona (5.11 million euros), as compared to the same period of last year; in local currencies, “net sales were flattish compared with last year”. Excluding Russia, Belarus and Ukraine, net sales would have increased by 8% year-over-year.

The fashion group added, however, that is on track to achieve an operating margin of 10% in 2024 and that profitability and inventory levels were prioritised during the third quarter.

These figures are provisional. The nine-month report is scheduled to be released on the 27th of September.

1 Swedish krona = 0.084 euros

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