H&M sees its profit drop by 22% in the second quarter

. Meanwhile, The Swedish fashion giant H&M reported on Thursday a profit dropped by almost 22% in the second quarter. Similarly, The Scandinavian group notably suffered from the appreciation of the US dollar. – H&m sees its profit drop

(Keystone-ATS) H&M gave net profit of 3.96 billion crowns (approximately 340 million francs) over the period from March to May 2025, against 5.06 billion last year.

“The result of the quarter was negatively affected by higher purchase prices due to a more expensive dollar. an increase in h&m sees its profit drop freight costs, but also by the fact that we continued to invest in the customer offer,” said H&M CEO Daniel Erver, quoted in a statement.

The company’s net sales fell by almost 5%, to 56.7 billion crowns, compared to the second quarter of 2024.

But the company noted that net sales had increased by 1% in local currencies “with 4% less stores at the. end of the quarter compared to the same time the previous year”.

In his report on quarterly results. it is indicated that net sales were affected by “a conversion effect of currencies of around six percentage points due to the strengthening of the Swedish crown”.

H&M also pointed out that its sales results in the second quarter were to “be considered in the light of. the fact that the second quarter of 2024 was a good quarter”.