#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.

Long John puts KARL MAYER's RDJ 7/3 into operation and strengthens its position as a market leader

KARL MAYER has just unveiled its new RDJ 7/3 Jacquard Double Needle Bar Raschel Machine in the international trade press, and the innovation is already causing a stir in the market: The Long John Group, a leading manufacturer of performance footwear fabrics and a long-standing partner of renowned brands, was the first customer to invest in the new machine and celebrated its official launch at its Indonesian plant on August 20.

An eco-friendly alternative to fluorocarbon treatments

Protective and outdoor clothing derives its durable water-, dirt- and oil- repellent properties from the application of fluorinated polymers or per- and polyfluorinated low-molecular- weight chemicals (PFCs). The beneficial properties thus achieved on textiles are offset by environmental and human health risks. For manufacturers of sports, medical, protective and automotive textiles, researchers at the Sächsisches Textilforschungsinstitut e.V. and the Leibniz Institute for Polymer Research have developed liquid-applied dispersions and solutions to functionalise textiles without the use of fluorine.

VDMA Textile Machinery with new Executive Board

At the general meeting of VDMA Textile Machinery held in Hanover at the end of September, Dr Janpeter Horn, Managing Director of A. Herzog Maschinenfabrik, was re-elected as Chairman of the trade association. Regina Brückner, managing partner of Brückner Trockentechnik, and Verena Thies, managing partner of Thies Textilmaschinen, will once again serve as vice-chairs for the next four years.

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.

Rieter appoints Daniel Lippuner as new CEO as Thomas Oetterli steps down

Thomas Oetterli has decided to step down from his function as CEO, effective October 31, 2026, and hand over the Chairmanship of the Board of Directors. “After the successful implementation of the Next Level performance program, the structural measures initiated to consolidate the sites and the acquisition of Barmag, the time has come to hand over responsibility to new hands,” explains Thomas Oetterli.

Kraig Labs ships first commercial spider silk yarn

Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company”, “Kraig Labs”, or “Kraig’s”), a world leader in spider silk technology*, today announced the shipment of its first commercial order of recombinant spider silk yarn. The custom-engineered yarn was produced to fulfill a purchase commitment from a globally recognized performance sports brand and is slated for development into a first-of-its-kind performance textile.

EFI and Agfa’s DPS Business to combine andform a global, full-service industrial inkjet company

Electronics for Imaging, Inc. (“EFI”), a leading industrial inkjet business and portfolio company of Siris, and Agfa-Gevaert (“Agfa”) today announced a definitive agreement to combine Agfa’s Digital Printing Solutions business (“Agfa DPS”) with EFI. An affiliate of Siris will hold a 60% interest and Agfa will hold a 40% interest in the jointly held company, which will bring together the operating capabilities of EFI and Agfa DPS under a governance structure whereby Siris and Agfa will act as equal partners.