H&M is reinstating its dividend 18 months after suspending it, as the Swedish fashion retailer continues its recovery from the Covid-19 pandemic.
The world’s second-largest clothes retailer posted pre-tax profit in the third quarter of SKr6.1bn ($690m), almost triple the figure from a year earlier and a fifth ahead of the same quarter in 2019 before the pandemic started. It was also better than the average analyst forecast of SKr5.1bn, according to Reuters.
But the purveyor of cheap chic has not yet reached its pre-pandemic sales levels, with revenues up by 9 per cent to SKr56bn year on year but still below the SKr63bn from the third quarter of 2019.
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