Q4 Net Sales Up 10%, Operations in Russia and Belarus Wound Up

  • H&M’s full-year sales increased by 12% to £17.7bn
  • Excluding Russia, Belarus and Ukraine, the increase was 15% in SEK and 8% in local currencies
  • Net sales in Q4 increased by 10% to £4.98bn compared to last year
  • H&M’s operations in Russia and Belarus were wound up during the quarter
  • Around 25-50 stores in China temporarily closed due to Covid outbreaks

Swedish fashion retailer H&M has reported a 12% increase in its full-year sales, reaching £17.7bn from 1 December 2021 to 30 November 2022. Excluding Russia, Belarus, and Ukraine, the growth was 15% in SEK and 8% in local currencies. The company’s Q4 net sales surpassed expectations, rising by 10% to £4.98bn compared to the same period last year. H&M wound up its operations in Russia and Belarus during the quarter, with the remaining stock sold off and stores closed on 30 November. In China, around 25-50 stores were temporarily shut due to Covid outbreaks. The full-year report for the 2022 financial year will be published on 27 January 2023.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about H&M’s sales increase, including specific percentages and timeframes. It also mentions the impact of events such as the wind-up of operations in Russia and Belarus and temporary store closures in China due to Covid outbreaks. The information is relevant and not sensationalized or biased.
Noise Level: 4
Noise Justification: The article provides relevant information about H&M’s sales performance and the impact of events such as Covid outbreaks in China and the winding up of operations in Russia and Belarus. However, it lacks a deeper analysis or exploration of long-term trends or consequences of these events on the fashion industry or society.
Financial Relevance: Yes
Financial Markets Impacted: H&M’s stock price and other retail stocks may be impacted by these sales figures
Financial Rating Justification: The article discusses H&M’s financial performance, including sales growth and store closures in various countries, which can affect the company’s stock price and potentially other retail companies’ stocks as well.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk