Thanks in part to a surprisingly strong fourth quarter, the H&M Group posted a sharp increase in profits in the past financial year. However, the retailer warns of weak winter sales. Strong Black FridayH&M reported surprisingly strong results in the fourth quarter of 2025, which also included the Black Friday weekend. Operating profit rose 38% to SEK 6.364 billion (€604 million), with an operating margin of 10.7%, compared to 7.4% a year earlier. This was despite a 4.8% decline in net sales to SEK 59.2 billion (approximately EUR 5.1 billion).