Pay Attention To The Financial Report Of H&M Group In 2022

Recently, H&M Group released its quarterly report and annual financial report for 2022.

According to the financial report, the sales of H&M Group in the fourth fiscal quarter as of November 30, 2022 were 62.433 billion kronor (about 40.749 billion yuan), which was the same as the sales recorded in the same period last year; The profit was SEK 820 million (about 535 million yuan), down 87% from the same period last year.

In fiscal year 2022, the net sales of H&M Group reached 223.55 billion Swedish kronor (about 145.807 billion yuan), up 6% year on year; Net profit fell 68% to 3567 million Swedish kronor (about 2.327 billion yuan).

As of November 30, 2022, H&M Group has 4465 stores in total, compared with 4801 stores in the same period last year, which means that H&M Group will reduce 336 stores in 2022.

In addition, according to the data from the brand monitoring of Jihai, the number of H&M stores in China plummeted from 479 in 2020 to 360 in 2022.