In the second quarter 2020 in the period March 1-May 31, the H&M group’s net sales decreased by 50% to SEK 28,664 (57,474) compared with the same period a year ago. In local currencies sales decreased 50%. Online sales increased 36% in SEK and 32% in local currencies during the same period a year ago.

Development during the second quarter was severely affected by the Covid-19 situation. In most markets, stores had to be temporarily closed and in the middle of April around 80 percent of the group’s stores were temporarily closed.

From the end of April onwards the H&M group started gradually reopening stores in a number of markets. Reopenings in each market are in line with local restrictions. The pace of the sales recovery varies at a large extent between markets. At present approximately 900 stores, representing around 18 percent of the group’s 5,058 stores, are still temporarily closed. Online sales are open in 48 of the company’s 51 online markets.

The H&M group’s total sales during the period 1 – 13 June this year decreased by 30 percent in local currencies compared with the same period in 2019.

Six-month report

In conjunction with the six-month report, which will be published on 26 June 2020 at 08:00 CEST,
the H&M group will provide an updated summary as regards the Covid-19 situation. The six-month report
will be followed by a telephone conference for the financial markets and media, which will be held in English at 09:00 with contributions from CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge. The presentation material will be available at hmgroup.com/investors.

For login details for the telephone conference please register at hmgroup.com or via this link:
http://emea.directeventreg.com/registration/4315578

To book interviews with CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge in conjunction with the six-month report on 26 June 2020, please contact: Kristina Stenvinkel, Communications Director, telephone: +46 8 796 39 08, e-mail: stenvinkel@hm.com.