H&M reports sales increase of 14% for Q3

Published:  05 October, 2021

The Swedish fast-fashion brand announced its third quarter 2021 results, showing sales and profit increases as stores continue to reopen with easing of Covid-19 restrictions.

Net sales for the group in local currencies increased to SEK55,585 million (US$6.4 billion), a jump of 14% year-on-year, while online sales saw a 22% increase.

Store sales also saw a recovery, with 180 stories temporarily closed at the beginning of the quarter, dropping to 100 by the end of August.

Despite growth in its financial results, the company reports that sales continue to be affected by Covid-related restrictions around the world, particularly in Asia, and H&M still cannot meet demand for certain products due to production delays and transport restrictions.