STOCKHOLM (dpa-AFX) - Hennes & Mauritz AB (HNNMY.PK, HMRZF.PK, HEN.L) reported that its third quarter profit after tax declined to 1.82 billion Swedish kronor from 3.86 billion kronor, prior year. Earnings per share was 1.10 kronor compared to 2.33 kronor. Excluding IFRS 16, profit after tax was 1.75 billion kronor or 1.05 kronor per share, for the quarter.
Third quarter net sales were 50.87 billion Swedish kronor. In local currencies, net sales decreased by 16 percent year-on-year. The Group noted that its sales were affected by the Covid-19 situation.
Sales in September decreased by 5 percent in local currencies compared with the same period last year. The Group noted that, 166 stores, representing 3 percent of the total number of stores, are still closed.
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