Revenues down at H&M but use of sustainable materials up
Apparel group H&M has published its annual report for the 12 months spanning December 1, 2019 to November 30, 2020.
Its revenues fell by 20% year on year to reach approximately $21.5 billion. It closed the period with just over 5,000 stores worldwide, 58 fewer than a year earlier.
Chief executive, Helena Helmersson, said the group had begun the period strongly, but that covid-19 had gone on to have “a significant impact” on its results.
It said that, during the 12-month period, the percentage of “recycled or other sustainably sourced materials” it had used was 64%, compared to 57% the year before. It reiterated that it aims to make sure all of the materials it uses are recycled or otherwise sustainably sourced by 2030.
Image shows yarn from an H&M supplier based in Bangladesh.
