#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.

YKK launches “YZiP® Light” aluminum alloy zipper for cotton pants

YKK Corporation (Headquarters: Chiyoda-ku, Tokyo; President: Koichi Matsushima; hereafter, YKK) has launched YZiP® Light, a lightweight aluminum alloy zipper for cotton pants, with sales beginning in late March. The introduction of YZiP® Light expands YKK’s zipper portfolio—led by the flagship YZiP® copper alloy zipper—providing customers with greater flexibility to meet diverse garment needs.

Shima Seiki showcases WHOLEGARMENT® and 3D knitting solutions for technical textiles at Techtextil 2026

Leading textile technology solutions provider SHIMA SEIKI MFG., LTD. of Wakayama, Japan, along with its Italian subsidiary SHIMA SEIKI ITALIA S.p.A., will be participating in the Techtextil 2026 exhibition in Frankfurt, Germany next month. On display will be WHOLEGARMENT® and other advanced three-dimensional knitting applications across a wide range of industries besides fashion apparel that are not typically associated with knitting, such as technical textiles using industrial materials and advanced three-dimensional knitting.

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.

Textilfabrik 7.0 launched: Mönchengladbach becomes a real-world lab for sustainable textile production

With the official kick-off event of the Textilfabrik 7.0 (T7), a major transformation project for the German textile and apparel industry has been launched in the Monforts Quarter in Mönchengladbach. At the “Textile Roundtable,” an event format organized by the Zukunftsagentur Rheinisches Revier, representatives from industry, research, politics, and the regional economy came together to jointly lay the foundation for CO₂-neutral, circular, and economically viable textile production in Germany.

Future ready nonwovens and fiber processing solutions – Meet Trützschler at Techtextil 2026

From April 21 to 24, 2026, the Trützschler Group will present its future‑ready solutions at Techtextil in Frankfurt, Germany. At Booth C61 in Hall 12.0, Trützschler Nonwovens will showcase its latest developments for efficient nonwovens production, including comprehensive service and consulting solutions. Highlights include the fully upgraded X‑Series nonwoven cards suitable for spunlace, needle‑punching and air‑through bonding (ATB) processes, as well as the T‑ONE digital working environment enhanced with new features. Trützschler Card Clothing will complement the presentation with a new card wire designed with a specially engineered surface for high‑performance nonwoven applications. Visitors can also take a closer look at Trützschler’s complete solution for the recycling of textile waste, TRUECYCLED.

Europe needs tipping point to scale textile-to-textile recycling, BCG and ReHubs say

A new report from Boston Consulting Group (BCG) and ReHubs, titled “Advancing Textile Circularity – Europe’s textile waste challenge: Scaling Textile-to-Textile requires enabling mechanisms”, highlights the urgent need for systemic action to tackle Europe’s growing textile waste and scale a circular textile economy.

Former ASOS CEO Nick Beighton joins Kornit Digital to help shape the future of on-demand fashion

Kornit Digital LTD. (NASDAQ: KRNT) ("Kornit" or the "Company"), a global leader in sustainable, on-demand digital fashion and textile production technologies, today announced it has appointed Nick Beighton, former Chief Executive Officer of ASOS, as a strategic advisor to the Company and its Board of Directors. His appointment reflects Kornit’s continued focus on strengthening its connection to global brands, retailers, and digital commerce platforms as the industry transitions toward on-demand production. The Company plans to nominate Mr. Beighton for election to the Board at Kornit’s 2026 Annual Shareholder Meeting.