November 24, 2020

H&M sales in Spain fell 37% in the first half

Sales of the Swedish fashion chain Hennes and Mauritz (H&M) in Spain fell 37% year-on-year in the first half of the fiscal year (December-May) to 2,407 million crowns (229 million euros), according to the balance presented this Friday by the company.

The coronavirus crisis caused a drop in sales of 72% in the second quarter (March-May) to SEK 546 million (€ 52 million), accounted for in local currencies.

H&M had 166 operating establishments in Spain as of May 31, one less than a year earlier.

The main rival of the Spanish distribution firm Inditex presented on Friday a net loss of 3,063 million Swedish crowns (292 million euros) in the first half due to the coronavirus pandemic.

In the second quarter (March-May) the net loss was 4,991 million (476 million euros), compared to a gain of 4,569 million (435 million euros) a year earlier.


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