MOSCOW, April 20. /TASS/. The net loss of H&M in Russia totaled 9.7 bln rubles ($119.7 mln) in 2022 against 6.9 bln rubles ($85.1 mln) in profits earned in 2021, according to the statement posted on the state information portal of financial reporting statements.

Revenues of the retailer amounted to 29.2 bln rubles ($359.7 mln) or 59.1% of the 2021 level, as indicated in the company’s reporting statements.

In December 2022, H&M closed all stores (about 150) of its chain in Russia.