The company said on Friday its H1 net loss dropped. Compared with the same period last year, revenues also decreased by 22.9 percent.

For H1, the company's net profit was -3,063 million dollars, slipped from 5,372 million dollars last year. Revenues decreased to 83,612 million dollars. The profit margin of the company decreased to -4 percent compared to 5 percent a year ago.

The H&M group through its nine brands — H&M, Cos, Monki, Weekday, & Other Stories, Cheap Monday, H&M Home, Arket and Afound, offer a wide variety of trendy fashion, beauty, accessories and homewares. The manufacturer and retailer of trendy clothing and accessories is based in Sweden, and is currently listed in Stockholm. Headquartered in Stockholm, H & M Hennes & Mauritz AB offers fashion, accessories and homeware.

As of 2020, H&M has more than 171,000 employees and operates over 4,800 stores.

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