H&M recorded a decrease of 21.3% in its net profit in Spain in its last fiscal year, which stood at 12.2 million euros at the close of November 30, 2025, compared to the 15.4 million euros obtained in the previous year.
The Spanish subsidiary of the Swedish fashion multinational achieved a turnover of 469.2 million euros, 2.23% less than in the previous period, according to the accounts filed with the Mercantile Registry and consulted by Europa Press through Informa D&B.
The operating result (Ebit) in the domestic market fell to 14.49 million euros, representing a decrease of 20.25% compared to the 18.18 million euros from the previous year. For its part, the result before taxes contracted by 20.17%, reaching 16.24 million euros.
Reorganization of stores and staff adjustment
The company has explained that in the last fiscal year it has continued to advance in its optimization and restructuring plan of its commercial network in Spain "through renegotiations, extensions, closures, and reforms." In this context, the chain opened two new points of sale and closed nine establishments, so that its network was configured with 113 stores at the close of the fiscal year.
This redesign of the store map was accompanied by a reduction in staff. The average number of employees of H&M in Spain decreased to 2,465 workers during the fiscal year, compared to the 2,956 employees counted the previous year.
Despite the decline in sales and the lower number of physical stores, the company reports in its report that the commercial reception in the Spanish market "remains favorable" and highlights the boost given to digitalization and the improvement of its online channel to strengthen the relationship with its customers.
Regarding the shareholder remuneration policy, H&M Spain has approved the distribution of a dividend to its parent company for a total of 30 million euros, charged to reserves.
In addition, the Spanish subsidiary of H&M details in its annual accounts the operational reorganization carried out on January 1, when it transferred its logistics activity to Hennes & Mauritz Support, S.L., a newly created company within the group, subrogating the contracts and ensuring the operational continuity of this area.