H & M Hennes & Mauritz AB Publ Reports Earnings Results for the Second Quarter Ended May 31, 2021
July 01, 2021 at 11:30 am IST
Share
H & M Hennes & Mauritz AB publ announced earnings results for the second quarter ended May 31, 2021. For the second quarter, the company announced sales was SEK 46,509 million compared to SEK 28,664 million a year ago. Operating income was SEK 3,852 million compared to operating loss of SEK 6,188 million a year ago. Net income was SEK 2,767 million compared to net loss of SEK 4,991 million a year ago. For the half year, sales was SEK 86,569 million compared to SEK 83,612 million a year ago. Operating income was SEK 2,724 million compared to operating loss of SEK 3,498 million a year ago. Net income was SEK 1,697 million compared to net loss of SEK 3,063 million a year ago.
Hennes & Mauritz AB (H&M) specializes in designing and distributing clothes, accessories and cosmetics for men, women and children. The products are sold primarily under the H&M, H&M Home, COS, Monki, Weekday, Afound, & Other Stories and ARKET brands. Products are manufactured by subcontractors.
At the end of November 2023, products are marketed through a network of 4,369 points of sale (of which 282 franchises) located mainly in Sweden (91), the United States (508), Germany (420), the United Kingdom (238), France (197), Italy (160) and the Netherlands (107).
Net sales are distributed geographically as follows: Germany (14.9%), the United States (14%), the United Kingdom (7.4%), France (4.8%), Sweden (3.7%), Italy (3.2%), the Netherlands (3.1%), Poland (3.1%), Switzerland (2.9%), Canada (2.9%) and other (40%).