#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.

Knowledge that drives progress: Techtextil and Texprocess forums strengthen the global textile industry with a future-oriented programme

From AI-supported production optimisation and digital manufacturing solutions to circular technologies and bio-based high-performance materials: the Techtextil and Texprocess forums provide answers to the key challenges of the global textile industry with a curated content programme. As hubs for innovation and knowledge, they enhance competitiveness and offer orientation in changing markets. From 21 to 24 April 2026, Frankfurt is once again the global meeting point for thought leaders from industry, research and business.

Enhanced protection without added weight: Innovative technology for flame-retardant textiles doubles reaction time and ensures high wearing comfort

Flame-retardant textiles have long faced the same dilemma: the higher the level of protection, the greater the compromise in comfort, weight and breathability. This is especially important for workwear and protective clothing worn for long hours, where comfort is crucial to wearer acceptance and satisfaction. At Techtextil 2026 in Frankfurt, Swiss company Textilcolor AG will unveil pyroshell™, an innovative flame-retardant technology designed to tackle this challenge. Protection is provided by a graphite-based functional layer integrated into the textile structure, which doubles the reaction time before burns occur while significantly enhancing comfort. The material does not release any toxic fumes and offers textile manufacturers entirely new opportunities to design and produce protective and functional garments. It is also durable enough to withstand up to 50 industrial washes.

JEC WORLD 2026 opens: Paris becomes the World Capital of composites

JEC World 2026 opens tomorrow, March 10, at Paris Nord Villepinte, bringing together the entire composites ecosystem for three days of exhibitions, conferences, technical sessions, strategic industry gatherings, and business meetings. As the “festival of composites”, JEC World is also a destination for a broad spectrum of other professional visitors, eager to discover how these advanced materials can offer sustainable solutions to their industries.

Barmag presents the next generation of POY production – energy-efficient and partial-automated

With POY 2.0, Barmag is introducing a completely redesigned spinning concept that takes the production of partially oriented yarn (POY) to a new level in terms of technology and economy. The solution, which was presented to a selected audience of experts for the first time at ITMA Asia + CITME 2025, was met with great enthusiasm: several yarn producers worldwide immediately expressed their interest in a pilot plant.

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.

Textile‑to‑textile recycling leader Circulose joins Spinnova’s ecosystem to accelerate technology scale‑up

Textile‑to‑textile recycling leader Circulose joins Spinnova’s ecosystem (consortium) to help advance the scale‑up of Spinnova’s technology. Spinnova has actively sought partners to accelerate commercial scale‑up, and Circulose, as a key player in textile recycling, strengthens the ecosystem by providing a raw material that is in high demand across the industry.

UNIFI® introduces Luxel™: A Linen-inspired, easy-care performance yarn

Unifi, Inc. (NYSE: UFI), the makers of REPREVE® and one of the world’s leading innovators in recycled and synthetic yarns, today announced the launch of Luxel™, a groundbreaking yarn technology that combines the luxurious look and feel of linen with high-performance, easy-care, and textile-to-textile recycled materials.