H&M starts the financial year with more sales

The clothing chain H&M has started the new financial year with significant growth. In the first business quarter to the end of February, sales of almost 54.9 billion Swedish crowns (almost 4.9 billion euros) were twelve percent higher than in the second Corona winter a year earlier, as the company announced on Wednesday in Stockholm based on preliminary figures .

The fact that the increase was not even greater was due to the Russian war of aggression in Ukraine. Because H&M, like many other companies, has withdrawn from Russia and Belarus. If you exclude Russia, Belarus and Ukraine, sales increased by 16 percent. In national currencies, this increase was still seven percent.

H&M intends to present the full quarterly report on March 30th. (dpa)

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