#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.

Mario Jorge Machado re-elected President of EURATEX

The EURATEX General Assembly has re-elected Mario Jorge Machado as President of EURATEX, renewing its confidence in his leadership at a crucial moment for the European textile and clothing industry. The sector is facing rising costs, global competitive pressure and an increasingly challenging transition towards sustainability and digitalisation.

ITM 2026 makes happy participants with its international and qualified visitor profile

ITM 2026 International Textile Machinery Exhibition, one of the most prestigious meeting points of the textile machinery sector, attracted attention in its first three days, particularly with its diverse international visitor numbers. Industry professionals from all over the world had the opportunity to closely examine the latest technology machines and solutions displayed in operation. Thousands of visitors from approximately 100 countries, primarily Egypt, Pakistan, India, Uzbekistan, Syria, Turkmenistan, Tajikistan, Morocco, Algeria, and Tunisia, met at the Tüyap Fair and Congress Center for new investment and cooperation opportunities.

KARL MAYER presents a textile TEXTRONIC® innovation at ITM 2026

With highly efficient machines and continuous textile innovations, KARL MAYER underscores its role as a reliable partner for discerning top-tier customers. Just in time for ITM 2026 in Istanbul, the industry leader is introducing a true innovation: an eyelash lace with its characteristic fringed look – combined with a previously unattainable 4-way stretch. While the established fabric could until now only be produced as rigid version or with one-dimensional stretch, the new elasticity in both dimensions expands the possibilities for cross-band panel fabrics.

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.

DYNEEMA® and NP Aerospace advance personal protection for military servicewomen

Dyneema®, owned by Avient Corporation, an innovator of materials solutions, is supplying its high-performance unidirectional (UD) materials to world-leading armor manufacturer NP Aerospace, enabling the production of armor systems designed specifically to fit the female body. With 2,000 new armor systems, including 4,000 plates, made in the United Kingdom (UK) and delivered in June 2026, this collaboration addresses a long-standing lack of high-quality personal protection specially built for female defense and security personnel.

Textile Exchange publishes comprehensive polyester LCA study

Textile Exchange has released a new Life Cycle Assessment (LCA) study on polyester, providing detailed data on the environmental impacts of both virgin and recycled polyester production. The study aims to strengthen understanding across the fashion, textile and apparel industries and support more informed decision-making regarding polyester sourcing and production.

Keeping products moving with Swedish automation at FILTECH 2026

At FILTECH 2026, taking place in Cologne from June 30th to July 2nd, members of TMAS – the Swedish textile machinery association – will highlight how the country’s engineering expertise is enabling filtration manufacturers to increase productivity, improve traceability and reduce dependence on labour-intensive manual processes.