Retail & Brands
The H&M group’s sales development and preliminary results in the third quarter 2020
Sales development in the third quarter
Sales development in the third quarter reflects the Covid-19 situation. At the beginning of the quarter approximately 900 of the group’s more than 5,000 stores were temporarily closed. At the end of the quarter just above 200 stores were temporarily closed.
Preliminary results for the third quarter
As a result of appreciated collections together with rapid and decisive actions, the H&M group's recovery is better than expected. More full-price sales combined with strong cost control enabled the company to already turn to profit in the third quarter. Preliminary results show profit before tax of approximately SEK 2 billion.
The final results for the third quarter and the nine-month period 1 December 2019 – 31 August 2020, will be published at 08:00 CEST on 1 October 2020. A telephone conference for the financial market and media will be held in English at 09:00 CEST, hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge.