{"id":222098,"date":"2022-12-15T09:40:41","date_gmt":"2022-12-15T09:40:41","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=222098"},"modified":"2022-12-15T18:48:07","modified_gmt":"2022-12-15T18:48:07","slug":"hm-group-sees-full-year-net-sales-rise-12","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/hm-group-sees-full-year-net-sales-rise-12\/","title":{"rendered":"H&M Group sees full year sales rise 12%"},"content":{"rendered":"
H&M Group<\/a><\/span> has reported net sales for the financial year, 1 December 2021 and 30 November 2022, rose 12% to \u00a317.7 billion (SEK 223.57 billion).<\/strong><\/p>\n Fourth quarter net sales for the three months to 30 November 2022 increased by 10% to \u00a34.93 billion (SEK 62.4 billion) year on year.<\/p>\n The owner of H&M<\/a><\/span>, Monki<\/a>,<\/span> and Cos<\/a><\/span> confirmed that its operations in Russia and Belarus were wound up during the quarter, with the remaining stock being sold off and the last stores having closed on 30 November.<\/p>\n During the quarter around 25\u201350 stores in China were also temporarily closed due to new COVID-19 outbreaks.<\/p>\n The group's previous quarter sales were largely impacted by its withdrawal from the Russian market. At the time, Helena Helmersson, CEO of H&M Group, said: \"With loyal customers all over the world, engaged colleagues and sound finances, in combination with a long-term perspective, we see good opportunities to strengthen our position despite the situation in the world around us.\u201d<\/p>\n H&M Group also confirmed it will publish its full-year report on 27 January 2023, warning that the results published today are provisional and \"may deviate slightly from the full-year report\".<\/p>\n