H&M Group reports steady sales amid regional growth

H&M Group reported sales of SEK 57.2 billion (approximately US$5.8 billion) for the three months ending August 31, representing a 1 per cent increase year on year. While sales in Swedish krona remained relatively flat due to a stronger currency reducing the value of overseas earnings, the Asia, Oceania, and Africa region saw a 4 per cent growth in local currencies during the third quarter.

Chief Executive Daniel Ervér noted that sales improved as the summer progressed, attributing the uptick to a well-received summer collection.