The slight relaxation of the corona situation and the associated easing are also reflected in H & M’s business figures. Sales increased in the second fiscal quarter.
The clothing chain Hennes & Mauritz (H&M) returned to the black in the second quarter of the fiscal year thanks to relaxed corona measures.
In the three months to the end of May, thanks to higher sales and strict cost control before taxes, the group earned 3.6 billion Swedish kronor (355 million euros), as the competitor of the Spanish group Inditex (Bershka and Massimo Dutti) announced in Stockholm on Thursday.
A year ago, the group with brands such as & Other Stories or COS had amassed a pre-tax loss of 6.5 billion crowns due to the measures to contain the corona pandemic such as shop closings. The group was still in the red in the first quarter of the 2020/21 financial year.
As already known since mid-June, sales in the second quarter rose by almost two thirds to just under 47 billion crowns. The Swedes benefited on the one hand from the fact that more and more branches were able to open in the course of the quarter and on the other hand from a strong increase in sales in sales over the Internet.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
