Sales development for the quarter compared with the previous year was affected by calendar effects, mainly because Black Friday this year fell a week later, i.e. just before the end of the month of November. Therefore some of the big Black Friday online sales will not be recognised until December. The amount in question is expected to be approximately SEK 500 m. Adjusted for this amount, sales in SEK in the fourth quarter 2019 increased by 10 percent and in local currencies by 6 percent compared with the previous year.
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M Home and ARKET as well as Afound. The H&M group has 51 online markets and more than 5,000 stores in 74 markets, including franchise markets. In 2019, net sales were SEK 232 billion.
