#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.

KARL MAYER invites the Global Textile Industry to celebrate its 90th anniversary at its German Headquarters in 2027

KARL MAYER is turning its anniversary year 2027 into a milestone for the textile sector. To mark its 90th anniversary, the industry leader is inviting customers, partners, and experts from around the world to a unique event series in September aimed at pushing boundaries, unlocking new opportunities, and jointly setting the course for a new era in textiles – just as KARL MAYER has done throughout its history. The company’s headquarters in Obertshausen, near Frankfurt, is the place to be.

ITMF names three winners of the Sustainability & Innovation Award 2026

Three projects from the UK, Korea and China have been selected as winners of the ITMF Sustainability & Innovation Award 2026. The projects address textile-to-textile recycling, chemical recycling for automotive textiles and a regenerative approach combining silk production with ecological restoration.

Durak Maxibalance thread supports users’ movement and balance comfort

Durak Tekstil, a leading brand in its industry, has developed Durak Maxibalance, a new product engineered with bio-ceramic and FAR IR technology. Ushering in a new era for sportswear, activewear, and medical textiles, this technology offers features designed to support balance and movement comfort by reflecting the energy absorbed from the body back into it.

Circ launches first denim collection with H&M featuring TENCEL™ | Circ® with REFIBRA™ technology

Circ today announced that the first men's denim collection featuring TENCEL™ | Circ® with REFIBRA™ technology is now available at H&M, marking the commercial delivery of this unique pilot project first announced in October 2025. Featuring two styles available across the UK, Scandinavia, Central Europe, Eastern Europe, South Europe, Turkey, North America, Mexico, Canada, and the Middle East, the launch brings TENCEL™ | Circ® with REFIBRA™ technology into H&M's standard men's denim assortment for the first time.

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.

Yarn Expo Autumn 2026 draws to a close, weaving sustainable innovation into global sourcing

Yarn Expo Autumn 2026 concluded with approximately 600 exhibitors from 14 countries and regions, connecting with nearly 22,000 visitors from 110 represented markets, bringing the textile industry’s evolving material agenda into sharper focus. Held alongside Intertextile Shanghai Apparel Fabrics – Autumn Edition, CHIC and PH Value, the fair connected upstream fibre and yarn innovation with fabric development, garment production and fashion-market demand.

Italian textile machinery at TITAS 2026: strategic partnership and tailor-made solutions for the Taiwanese market

The excellence and innovative capabilities of Italian textile machinery technology are coming to Taipei for TITAS 2026 (Taiwan International Textile & Garment Machinery Show), the leading event for the island’s textile industry and the wider Asian region, scheduled to take place from 6 to 8 October 2026.