High Street

H&M Group reports 12% surge in 2022 Q2

The group is set to publish its full six-month report on June 29

The H&M Group has reported that its net sales in local currencies increased by 12% in the second quarter 2022, the period 1 March 2022 to 31 May 2022, compared with the corresponding period last year.

Net sales for its fashion business increased by 17% to £4.5bn.

The group is set to publish its full six-month report on June 29, covering the period from 1 December to 31 May.

The latest report represents an upturn in fortunes for the group, after it saw profits fall 88% in 2021.

The increase also follows recent trends in the industry; Inditex, owner of high-street rival Zara, recently revealed a surge of 80% in profits.

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