H & M Hennes & Mauritz AB Three-month report 2026

First quarter (1 December 2025 — 28 February 2026)

· Net sales amounted to SEK 49,607 m (55,333). Sales in local currencies decreased by 1 percent, with around 4 percent fewer stores at the end of the quarter compared with the same point in time last year. Net sales in SEK were negatively affected by a currency translation effect of just over 9 percentage points due to the strengthened Swedish krona.
· Gross profit amounted to SEK 25,138 m (27,169), which corresponds to a gross margin of 50.7 percent (49.1). The costs of markdowns decreased somewhat compared with the previous year.

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