#Retail & Brands

2024-06-27

H&M Group reports robust Q2 and six-month performance

The H&M Group has reported a robust performance in the second quarter (March 1, 2024 – May 31, 2024), with net sales rising by 3% to SEK 59,605 million. Gross profit surged by 11% to SEK 33,569 million, improving the gross margin to 56.3%. Operating profit increased significantly to SEK 7,098 million, achieving an operating margin of 11.9%. Adjusted operating profit stood at SEK 7,297 million. The result after tax soared by 52% to SEK 4,995 million.

In the first half of the year (December 1, 2023 – May 31, 2024), net sales edged up by 1% to SEK 113,274 million. Gross profit rose to SEK 61,224 million, and the operating profit increased to SEK 9,175 million. Cash flow from operating activities improved to SEK 16,567 million.

H&M has been recognized by Stand.earth for its climate initiatives, receiving the highest score among leading fashion brands. Additionally, the company’s AGM authorized the potential buyback of B shares until the 2025 AGM.

CEO Daniel Ervér highlighted the group's best results in years, emphasizing the company's strong financial position and commitment to sustainable growth. Despite a predicted 6% decrease in June sales due to adverse weather conditions, H&M remains optimistic about continued growth.

Key Highlights:

+ Q2 net sales: +3% to SEK 59,605 million

+ Q2 gross profit: +11% to SEK 33,569 million

+ H1 net sales: +1% to SEK 113,274 million

+ H1 gross profit: SEK 61,224 million

+ Stand.earth recognition for climate efforts

+ Authorization for potential B share buyback

With a focus on customer experience and strategic investments, H&M is poised for profitable and sustainable growth.

RE&UP partners with Madewell and ISKO on textile-to-textile denim capsule

RE&UP Recycling Technologies is accelerating the shift toward a closed-loop textile economy through a collaboration with American denim brand Madewell and global fabric manufacturer ISKO. By transforming approximately 20,000 pairs of post-consumer jeans into recycled feedstock for a textile-to-textile denim capsule, RE&UP demonstrates the commercial viability of circular systems in the denim sector.

Sedo Treepoint will exhibit smart technologies for technical textile production

As technical textile production becomes increasingly complex and sustainability requirements intensify, digital integration is evolving from an efficiency tool into a strategic task. At Techtextil 2026 (April 21–24, Frankfurt am Main), Sedo Treepoint will present smart digital systems designed to address the demanding production environments of technical textile manufacturing. The company’s focus will be on practical technologies that enhance process transparency, reproducibility, and efficient resource use. Visitors will meet Sedo Treepoint in Hall 12, Booth D05.

ITM presents cutting-edge textile research at Techtextil

From April 21 to 24, 2026, the Chair of Textile Machinery and High Performance Material Technology (ITM) at TUD Dresden University of Technology will be presenting its current research at Techtextil, the leading international trade fair for technical textiles and nonwovens. In Hall 12.0, Stand D41, the team will be demonstrating how it combines high-performance fibers, AI-supported digital development tools and innovative machine technologies to develop textile solutions for lightweight construction, construction, medical technology and sustainable production from atom to product.

CHT Group to showcase intelligent specialty chemical solutions at Techtextil 2026

At this year's Techtextil 2026 in Frankfurt am Main, the CHT Group will be presenting its comprehensive portfolio of tailor-made specialty chemicals and process solutions for technical textiles. As a reliable partner to the global textile industry, the company offers innovative products and in-depth technical expertise across all areas of the textile value chain – from pretreatment, dyeing, and printing to finishing, coating, and fiber auxiliaries.

Recover™ secures multi-year recycled cotton agreement with H&M

Recover™ has signed a multi-year agreement with H&M to support the integration of its recycled cotton fiber, RCotton, for use in H&M’s products. Since early 2024, H&M and Recover™ have collaborated on product development, which now enables scaled commercial introduction of Recover™ mechanically recycled cotton into H&M’s collections.

GORE-TEX® KIDSWEAR launches innovative membership scheme for kids’ jackets

With its revolutionary new membership model, GORE-TEX® Kidswear now offers families a simple, flexible and sustainable way of kitting out their children in top-quality jackets. It is aimed at the parents of children aged between five and ten and kicks off with a choice of functional winter jackets.

Syre and JEPLAN Announce Strategic Partnership to Accelerate Textile-to-Textile Recycling

JEPLAN, INC. the Japanese pioneer developing and operating chemical recycling technologies for circularity in packaging and textiles, and Syre, the textile impact company on a mission to hyperscale textile-to-textile recycling, announced today a strategic partnership. Together, the companies aim to extensively accelerate the timeline towards commercialization of next generation textile-to-textile polyester recycling technology.

AI, Start-ups, Research: Techtextil and Texprocess bring together players in the textile industry

From start-ups to universities and research institutes: at Techtextil and Texprocess, the world’s leading innovation trade fairs in Frankfurt am Main, exhibitors present future-oriented concepts for the global textile industry. With the international Campus & Research area, a strong participation from start-ups and the latest AI applications for textile processing, both trade fairs showcase current developments in the textile industry. By bringing together innovation, research and application, they enable new partnerships across the textile value chain.

IVGT joint stand brings innovation and networking to Techtextil 2026

At Techtextil 2026 and the parallel Texprocess 2026, key transformation topics such as artificial intelligence, digitalisation, sustainability, recycling and the circular economy will be reflected across the show. Against this backdrop, the IVGT, together with 16 member companies, will present its joint stand in Hall 12.1 (Stand D62) as a platform for exchange and networking.