01 October 2021, Mumbai:
The H&M Group plans to launch its operations in five new markets in 2022. These include Ecudaor, North Macedonia and Kosova and via franchise in Costa Rica and Cambodia. The group’s bet sales in the third quarter 2021 increased by 14 percent compared with the corresponding period last year.
Converted into SEK net sales increased to SEK 55,585 million. At the start of the quarter around 180 stores were temporarily closed and at the end around 100 stores remained closed.
The group’s online sales increased by 22 percent in local currencies and 17 percent in SEK. Its gross profit increased by 19 percent to SEK 29,559 million. This corresponds to a gross margin of 53.2 percent.
Profit after financial items increased by 158 percent to SEK 6,093 million. Its operating margin increased by 11.3 percent; profit after tax increased to SEK 4,692 million, corresponding to SEK 2.83 (1.10) per share.
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