H&M recently released its annual numbers. It looks like the company is coming back from the 2020 pandemic with growing profits. The Swedish fashion group has many well-known brands, including &Other Stories, Monki, COS and Afound.
19 billion euros in net revenue.
In the last quarter of 2021, revenue excluding exchange rates rose 8 percent. For the full year, net sales were 19 billion euros, an increase of 6 percent over the previous year.
Net sales totaled 19 billion euros.
Profits rose particularly sharply: for 2021, the fashion giant made €1.36 billion in pre-tax profits. This is six times more than in 2020. In the fourth quarter, pre-tax profits rose by 60 percent.
More than 200 stores were closed.
The annual figures are definitely affected by the pandemic restrictions: in 2020, net profit was 110 million euros, compared to 1.1 billion euros now. In 2021, however, Covid-19 was still hanging on, having closed more than 200 physical stores.
Compared to 2019, Q4 profits were up 40%.
But even compared to pre-pandemic 2019, profits were up 40% in the last quarter. "We finished the year strong, with sales back to the same level as before the pandemic and profitability better than it had been for several years," says CEO Helena Helmersson.
The online division remains strong
Now that stores are reopening, the online division remains strong. Online sales were up 10 percent in Q4. Year-over-year growth was 30 percent. Six of the H&M Group's 19 billion euros in revenue now come from the online division.
Six of their 19 billion euros in revenue come from their online division.
Their individual brands are also focused on online: &Other Stories and Monki are available in more countries digitally than in physical stores. According to H&M, the company will continue to integrate online and physical channels, such as through click-and-collect and parcel lockers.
19 billion euros in net revenue.
In the last quarter of 2021, revenue excluding exchange rates rose 8 percent. For the full year, net sales were 19 billion euros, an increase of 6 percent over the previous year.
Net sales totaled 19 billion euros.
Profits rose particularly sharply: for 2021, the fashion giant made €1.36 billion in pre-tax profits. This is six times more than in 2020. In the fourth quarter, pre-tax profits rose by 60 percent.
More than 200 stores were closed.
The annual figures are definitely affected by the pandemic restrictions: in 2020, net profit was 110 million euros, compared to 1.1 billion euros now. In 2021, however, Covid-19 was still hanging on, having closed more than 200 physical stores.
Compared to 2019, Q4 profits were up 40%.
But even compared to pre-pandemic 2019, profits were up 40% in the last quarter. "We finished the year strong, with sales back to the same level as before the pandemic and profitability better than it had been for several years," says CEO Helena Helmersson.
The online division remains strong
Now that stores are reopening, the online division remains strong. Online sales were up 10 percent in Q4. Year-over-year growth was 30 percent. Six of the H&M Group's 19 billion euros in revenue now come from the online division.
Six of their 19 billion euros in revenue come from their online division.
Their individual brands are also focused on online: &Other Stories and Monki are available in more countries digitally than in physical stores. According to H&M, the company will continue to integrate online and physical channels, such as through click-and-collect and parcel lockers.