H&M is rebornmillion euros in its first quarter with less commercial space

H&M is experiencing its particular renaissance: the Swedish group earned 540 million Swedish crowns (47.8 million euros) in its first fiscal quarter – between December 2022 and February 2023 – compared to 217 million crowns (21 million in euros) recorded a year ago. With this attributable net profit, which represents a recovery of 148%, the particular quarter with euros recovery of the textile group continues. In 2020, during this same period, it recorded losses of 1,070 million. Crowns (103 million euros), which was the first impact of the pandemic. The Swedish group has increased its sales by 12% to 54,872 million Swedish crowns (4,855 million euros) compared. To the same period a year ago, as confirmed by the company this Thursday. Excluding its position in Russia, Belarus and Ukraine – where the group has completely ceased.

The new valuation of the associated companies

The good billing data, already reported by the group a few weeks before, nevertheless implies a slower growth rate than a year ago , when sales rose by 23% to 49,166 million in crowns (4,375 million in euros To the change). In the period most closely linked to the current situation – between March 1 and 31, 2022 – sales increased by 4% in local currency Bahamas Mobile Number Database compared to the previous year. Operating profit amounted to 64 million euros (725 million in Swedish crowns). is included. At this point, the consolidation of Sellpy to the group’s accounts stands out.  that previously operated as an associate of the Swedish group. Its quarter with euros incorporation represents a one-off effect of 999 million Swedish crowns (88.5 million). Who’s who in the textile universe: H&M, the self-made Swedish giant with 75 years of history that seeks to leave behind the impact.

 

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It is one of the largest European second-hand platforms

All in all, the value reached 2,293 million euros (25,886 million Swedish crowns). H&M explains that the high costs of raw materials and freight, combined with the strength of the US dollar, impacted “very negatively” on purchases in the first quarter. However, the Swedish group explains that the situation is gradually becoming less negative and is expected.  To become positive for goods to be sold later in the year. In fact, commercial stocks decreased by 16% compared  Estonia phone number list to the previous year. Regarding its commercial model, 70% of total sales were made in physical. Stores and around 30% online: “Sales in physical quarter with euros stores increased in the quarter. Despite having 7% fewer stores than the previous year,” the company explained. As of February 28, stores, which is 307 points less than a year earlier.

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