Sweden’s H&M posts $2.58 bn profit in Q1 FY25 despite margin pressure

H&M Group has reported net sales of SEK 55,333 million (~$5.26 billion) in Q1 FY25, a 3 per cent YoY increase, with local currency sales up 2 per cent despite fewer stores.
Gross profit stood at SEK 27,169 million (~$2.58 billion), impacted by a weaker margin.
The group continues investing in digital and physical upgrades.
March 2025 sales are expected to rise 1 per cent YoY.