H&M profits hit by hot weather

The retailer said the autumn trading season got off to a tough start because exceptionally hot September weather in Europe put people off buying warmer clothing and led to increased discounting. A stronger dollar also pushed costs up over the quarter. Pre-tax profit fell 9.2% to 6.3 billion kronor between 1 June and 31 August, falling short of analysts’ expectations. Sales including VAT rose 6% to 56.8 billion kronor. Sales including VAT in the first nine months of H&M’s financial year increased by 5% to 161.8 billion kronor. Pre-tax profit fell 17% to 16.6 billion kronor. H&M has a total of 4,135 stores and is planning to launch an online shop in Canada and South Korea during autumn 2016. By the end of the year, H&M will have online shops in 35 markets and stores in 64 markets. (



Register newsletter

Get to know about Nordic Chamber, our press releases and all news, straight to your inbox.