#Retail & Brands

2020-09-17

The H&M group’s sales development and preliminary results in the third quarter 2020

In the third quarter 2020, i.e. in the period 1 June 2020 to 31 August 2020, the H&M group’s net sales decreased by 16 percent in local currencies compared with the corresponding period last year. Converted to SEK net sales decreased by 19 percent to SEK 50,870 m (62,572).

Sales development in the third quarter

Sales development in the third quarter reflects the Covid-19 situation. At the beginning of the quarter approximately 900 of the group’s more than 5,000 stores were temporarily closed. At the end of the quarter just above 200 stores were temporarily closed.

Preliminary results for the third quarter

As a result of appreciated collections together with rapid and decisive actions, the H&M group's recovery is better than expected. More full-price sales combined with strong cost control enabled the company to already turn to profit in the third quarter. Preliminary results show profit before tax of approximately SEK 2 billion.

The final results for the third quarter and the nine-month period 1 December 2019 – 31 August 2020, will be published at 08:00 CEST on 1 October 2020. A telephone conference for the financial market and media will be held in English at 09:00 CEST, hosted by CEO Helena Helmersson, CFO Adam Karlsson and Head of IR Nils Vinge.

textile.4U publishes special edition “Top 100 Textile Recycling Companies 2025”

With a comprehensive 176-page special edition, textile.4U is dedicating its latest issue entirely to one of the most dynamic and influential topics in today’s textile industry: textile recycling. The new issue, published exclusively in high-quality print, presents the Top 100 textile recycling companies researched and selected by TexData – organizations that already play a key role in the transition to circular textiles or are expected to have a significant impact in the near future.

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

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.

Navis TubeTex announces U.S. partnership with Icomatex

Navis TubeTex, a global leader in advanced dyeing and finishing machinery solutions, is pleased to announce a new partnership with Icomatex (www.icomatex.com), a respected European manufacturer of high-quality stenters and textile finishing equipment. Under this agreement, Navis TubeTex will exclusively represent the Icomatex stenter line in the United States.

ADVANSA launches ADVA®tex: A new step toward textile-to-textile recycling

ADVANSA has introduced ADVA®tex, a new filling fibre made entirely from recycled pre-consumer textile waste, positioning the material as a significant step forward in textile-to-textile (T2T) recycling. The fibre is designed for use in duvets, pillows, mattresses, and furniture applications and is available in three versions.

KARL MAYER celebrates 35 years of EL pattern drive

KARL MAYER is celebrating an anniversary this year: on 30 November 1990, the first warp knitting machine with electronic guide bar control, the KS 4 EL, was delivered – another milestone for patterning. As early as 1980, the SU gearbox with the MRS42SU had initiated the transition from mechanical chains to digital data.