Fashion

H&M profits climb despite slowdown in September sales

By 27 September 2023

H&M

Fashion giant H&M has posted a boost in profits and sales for the first nine months of the year, despite sales in September slowing as a result of an “unusually hot” start to the autumn season.

H&M has today reported an 8% increase in net sales for the first nine months of the full financial year to 173.39bn Swedish krona (SEK) (£12.96bn).

Gross profit for the nine months to August 31, 2023, was also up reaching 87.24bn SEK (£6.52bn), while operating profit jumped to 10.2bn SEK (£760m) for the period.

 

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