The H& Meters group’s net sales amounted to 187, 031 mil Swedish krona in the 2020 financial year. In nearby currencies, net sales reduced by 18 percent. The organization said, sales development had been significantly negatively affected by the particular pandemic, particularly in the 2nd quarter when stores had been temporarily closed in most marketplaces; at the most, approximately 80 % of the group’s stores had been closed.
Gross profit amounted to 93, 544 mil Swedish krona, corresponding to some gross margin of fifty percent. Profit amounted to two, 052 million Swedish krona, while profit after monetary items amounted to 1, 691 million Swedish krona. The particular group’s profit after taxes amounted to 1, 243 mil Swedish krona, corresponding in order to 0. 75 Swedish krona per share.
“The H& M group stands solid after all the challenges through the pandemic. Thanks to much-appreciated collections, rapid and lucrative online growth and rigorous cost control, the company been successful in ending the year within profit and in a strong budget, ” said Helena Helmersson, H& M CEO within a statement.
In the fourth one fourth, the company reported net product sales of 52, 549 mil Swedish krona, corresponding to some 10 percent decrease in local foreign currencies. The company added that a solid recovery at the start of the one fourth was significantly slowed once the second wave of the outbreak again led to extensive brand new restrictions and lockdowns.
Major profit for the quarter amounted to 27, 375 mil Swedish krona, which refers to a gross margin associated with 52. 1 percent. Profit right after financial items amounted in order to 3, 665 million Swedish krona, while profit right after financial items amounted in order to 3, 538 million Swedish krona. The group’s revenue after tax amounted in order to 2, 485 million Swedish krona, corresponding to 1. fifty Swedish krona per discuss.
As a result of the second wave from the pandemic and the associated limitations and temporary closure associated with, at the most, more than 1, eight hundred stores, i. e. thirty six percent of the group’s complete of around 5, 500 stores, net sales reduced by 23 percent within local currencies in the time period December 1, 2020 in order to January 27, 2021 compared to the same period the previous calendar year.
The company further said that on the web and physical stores are being progressively integrated, with continued optimization of the store portfolio. Close to 100 new stores are usually planned to open in 2021, while 350 stores are usually planned to close within the same period – generally in established markets.
Image: H& M media photo gallery