H&M posts bumper sales

H&M
HONG KONG - CIRCA JANUARY, 2016: H and M store in Hong Kong. H and M known for its fast-fashion clothing for men, women, teenagers and children.

H&M has reported better than expected sales and profits for the last quarter of 2021.

The group now aims to double sales by 2030 and aims to focus more investment in the supply chain, renewable energy and sustainable materials.

Helena Helmersson, CEO, said: “We ended the year strongly, with sales back at the same level as before the pandemic and with profitability better than it has been for several years.”

“Now that we are back to a more normalised situation with a strong financial position and good profitability, we can fully focus on growth again.”

The retail group surpassed expectations and posted profits of £478.6m. Compared to the same period in 2019, profits jumped 43%.