Looking at different geographic regions, when excluding Russia, Belarus, and Ukraine from the calculations, the increase in net sales was 8 per cent in SEK terms, the company said in a press release.
In Q3 FY23, H&M Group saw a 6 per cent increase in net sales, achieving SEK 60,897 million.
Despite this, sales remained largely flat in local currencies. Excluding Russia, Belarus, and Ukraine, the rise was 8 per cent.
H&M is on track to reach a 10 per cent operating margin by 2024, prioritising profitability and inventory management this quarter.
On the operational front, H&M is making steady strides towards its goal of attaining a 10 per cent operating margin by 2024. The Q3 report indicated a positive trajectory in this regard, with a pronounced focus on enhancing profitability and managing inventory levels efficiently throughout the quarter.
Fibre2Fashion News Desk (DP)