Low-cost fashion brand H&M sees full-year sales up by 6%

STOCKHOLM (AP) — Swedish low-cost fashion brand Hennes & Mauritz AB says its net sales in local currencies have increased by 8% in the fourth quarter of 2021 to $6 billion, back at pre-pandemic level, with the full year net sales increasing by 6% to $21 billion. The Stockholm-based group said its Q4 gross profit increased by 14% to $3.3 billion) while for the whole year it increased to $11 billion. Chief executive Helena Helmersson said the group “ended the year strongly, with sales back at the same level as before the pandemic and with profitability better than it has been for several years.”