STOCKHOLM (dpa-AFX) - H&M group (HNNMY.PK, HMRZF.PK, HEN.L) reported a first quarter loss after tax of 1.07 billion Swedish kronor compared to profit of 1.93 billion kronor, prior year. Loss per share was 0.65 kronor compared to profit of 1.16 kronor.
First quarter net sales declined to 40.06 billion Swedish kronor from 54.95 billion kronor, a year ago. In local currencies, net sales decreased by 21 percent.
'While we are humbled by the uncertainty that still exists due to the pandemic, it's fantastic to see the great interest in our collections. With a well-positioned customer offering we are continuing our transformation at full speed to create long-term sustainable and profitable growth for the H&M group,' said Helena Helmersson, CEO.
The Group noted that is sales increased by 55 percent in local currencies in the period 1 - 28 March 2021 compared with the same period in 2020.
Copyright RTT News/dpa-AFX