The Sweden-based fast fashion company has reported that net sales in local currencies in the second quarter of fiscal 2023 were “flattish”, as compared to the same quarter of last year
In the three months that ended on the 31st of May, H&M saw its sales increase by 6% to 57.61 billion Swedish krónur (4.97 billion euros), on a comparable basis to the same period of fiscal 2022; in local currencies, “net sales were flattish”, in comparison with the second quarter of last year.
The fashion company attributed these results to the “unfavourable weather conditions” experienced in several of its major markets, but said that “June has got off to a good start”.
These results are provisional, but the final six month’ report is scheduled to be reported on the 29th of June.
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