H&M profits tumble as Covid-19 batters sales


H&M has suffered a slump in full-year profits and sales as the coronavirus crisis battered its top line. 

The fashion giant said profit after extraordinary items tumbled 88.2% to SEK 2bn (£174.4m) during the year to November 30, 2020. Gross profit fell 23.6% to SEK 93.5bn (£8.15bn).

Net sales dropped 18% on a local currency basis to SEK 187bn (£16.3bn) during the year.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.