In local currencies, sales increased 2% despite the group operating with 4% fewer stores by the end of Q4, strong evidence of improving profitability. The results suggest the group’s optimisation strategy is gaining traction, with initiatives including closing underperforming stores whilst opening flagship locations in high-potential markets. “Net sales for H&M’s portfolio brands increased 1% in local currencies for FY2024/25, with 4% growth excluding Monki, as strong performance from COS and ARKET drove momentum. Monki, by contrast, weighed on overall portfolio growth as it was fully integrated into Weekday, with all standalone Monki stores closed by the end of Q4. The group sales rose 2% in local currencies whilst portfolio brands grew just 1%, indicating the H&M brand outperformed the wider portfolio.