#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.

HeiQ & Archroma and Lenzing & Armedangels win ITMF International Collaboration Awards 2026

The International Textile Manufacturers Federation (ITMF) has named two industry partnerships as winners of the ITMF International Collaboration Awards 2026. The awards go to collaborations between HeiQ and Archroma as well as Lenzing and Armedangels, highlighting joint approaches to innovation and sustainability across different parts of the textile value chain.

180 years of TESTEX: From Zurich silk testing to global certification

For 180 years, TESTEX has developed alongside the textile industry while maintaining the same underlying purpose: creating trust through independent and reliable measurement. Founded in Zurich in 1846 as the Zurich Silk Conditioning Institute, TESTEX has grown from a local institution serving the silk trade into an international Swiss testing and certification institute for textiles and leather.

Moving Advanced Recycling from Innovation to Implementation

The Advanced Recycling Conference 2026 explores technologies, markets, financing and scale-up of innovative recycling solutions for waste streams including mixed plastic waste, textiles and PVC. Europe’s chemical and materials sector faces growing pressure to close carbon loops, strengthen raw-material safety and resilience and meet increasingly ambitious EU recycling targets. Against this backdrop, the Advanced Recycling Conference (ARC) will bring together industry leaders, technology providers, researchers, innovators and policy-makers on 17–18 November 2026 in Cologne, Germany.

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.

German textile industry and retailers form alliance to shape textile EPR system

Germany’s textile and fashion industry and retail sector have joined forces to establish the “Alliance for Textile Circularity” (Allianz für textile Kreisläufe). Initiated by the German Textile and Fashion Industry Association (Gesamtverband textil+mode) and the German Retail Federation (HDE), the alliance aims to contribute industry expertise to the development of Germany’s future Extended Producer Responsibility (EPR) system for textiles and footwear.

Cascale launches member-led process to shape 2030 strategy

Cascale has launched a member-led process to define the industry alliance’s strategic direction for the next decade. At the Cascale Annual Meeting 2026 in Athens, CEO Ying McGuire announced that members will contribute to an industry system map that will inform Cascale’s 10-year vision, its 2030 strategy and priorities for 2027. The new strategy is scheduled to be finalized in December.

PERFORMANCE DAYS introduces Digital Design Journey with CLO and VIZOO

PERFORMANCE DAYS will introduce a new Digital Design Journey at its upcoming edition in Munich, connecting physical fabric sourcing with 3D product development. Supported by CLO and VIZOO, the installation will demonstrate how real performance fabrics can be digitized and incorporated into virtual garment development workflows.