#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.

Mimaki demonstrates versatile, simple TRAPIS textile printing at Heimtextil 2026

Mimaki’s textile pigment transfer printing system, TRAPIS, is able to print on a diverse range of fabrics - unlike traditional processes - including natural fibres and synthetic fabrics. The full solution will be shown on Mimaki’s booth (Hall 3.0 Stand A97), as the company returns to Heimtextil to showcase its advancements in sustainable, high quality and efficient textile printing.

The Technology Hub for global denim trends: ITM 2026

The ITM 2026 International Textile Machinery Exhibition, to be held at the Tüyap Fair and Congress Center in Istanbul from June 9–13, 2026, brings together groundbreaking technologies in denim production. From smart production systems to eco-friendly raw materials, from digital washing solutions to laser effect technologies, innovations that will shape the future of denim will be showcased for the first time at ITM 2026.

38th International Cotton Conference Bremen: Let´s Talk about Cotton!

The 38th International Cotton Conference Bremen, to be held on 25-27 March 2026 in Bremen’s parliament building on market square, once again sends a powerful signal for professional excellence and international dialogue. The focus is on the latest market trends and technical innovations throughout the entire value chain – from agriculture and quality assurance to processing and the circular economy. With its high-calibre speakers, the conference remains an indispensable forum for anyone involved in shaping the cotton industry scientifically, technically, or economically.

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.

More safety and comfort for protective clothing thanks to auxetic fabrics

When everyday materials are pulled, they stretch or elongate in the direction of the pull and become narrower in cross-section. We can also observe this property in two-dimensional textiles. Auxetic structures behave differently here. They have the striking property of not changing under tensile stress or even increasing their width or thickness. These properties are advantageous, for example, in protective textiles or textile filter media. The DITF are researching auxetic fabrics for various applications.

SHIMA SEIKI returns to ShanghaiTex

Leading flat knitting solutions provider SHIMA SEIKI MFG., LTD. of Wakayama, Japan, together with its Hong Kong and Chinese market subsidiary SHIMA SEIKI (HONG KONG) LTD., will exhibit at the ShanghaiTex 2025 exhibition (Booth No.: Hall N3, Booth A20) held in Shanghai, China this month. This marks the return of SHIMA SEIKI to ShanghaiTex after a 14-year hiatus, its last exhibit at the show having been in 2011.