#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.

Heimtextil 2026 strengthens the global home textile industry with trends, designs and AI technologies

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Reifenhäuser wins German Design Award for new user interface

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Yarn Expo Spring 2026 spotlights industry transformation

Taking place 11 – 13 March 2026 at the National Exhibition and Convention Center in Shanghai, Yarn Expo Spring 2026 is set to build on the exceptional success of the 2025 edition, which attracted nearly 24,000 visitors from 123 countries and regions. The show set a record with over 560 exhibitors showcasing their latest innovations. Notably, regenerated fibres and yarns drew the highest interest among visitors, with 57% sourcing in that category. Reflecting growing industry momentum, Yarn Expo Spring 2026 will continue to serve as a key global platform for driving sustainable development within the yarn and fibre sectors.

Officina39 brings “Shades of Sunset” to Kingpins Amsterdam

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