#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.

New study shows low environmental impact by Cotton made in Africa Organic Cotton from Tanzania

Today, the Aid by Trade Foundation (AbTF) is announcing the results of a comprehensive life-cycle analysis (LCA) for cotton produced in Tanzania under the Cotton made in Africa Organic (CmiA Organic) standard. The study emphasises the small ecological footprint of CmiA Organic verified cotton. This can largely be traced back to the absence of synthetic pesticides, artificial fertilisers, and artificial irrigation. Consequently, CmiA Organic cotton can help the textile industry meet regulatory requirements as well as science-based targets. The results also show that the consequences of climate change threaten the livelihoods of these cotton farmers, even though the type of agriculture they practise barely contributes to climate change.

PERFORMANCE DAYS proves its relevance as the industry’s key meeting point

Held on March 18–19, 2026, PERFORMANCE DAYS once again confirmed its position as a leading international platform for functional textiles. A total of 3.366 trade visitors and around 560 exhibitors gathered in Munich, with the event already kicking off successfully on DAY 0, which received highly positive feedback for its interactive format. Despite challenging conditions caused by the public transport strike in Munich, the event saw strong attendance and a consistently high level of activity across both exhibition days.

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.

Reju secures €135 Million in Dutch NIKI Funding for industrial-scale textile-to-textile regeneration hub at Chemelot Industrial Park, the Netherlands

Reju™, the progressive textile-to-textile regeneration company, has been awarded €135 million in funding under the Netherlands’ Nationale Investeringsregeling Klimaatprojecten Industrie (NIKI) program. The funding will support Reju’s planned industrial-scale Regeneration Hub at Chemelot Industrial Park in Sittard-Geleen, covering both the investment phase and ongoing operations, and represents a critical milestone on the path toward final investment decision.

JEC World 2026 confirms its standing as the unmissable event for composites and their applications

JEC World 2026 confirms its position as the leading global event for the composite materials industry and its applications across multiple sectors, bringing together the entire composites ecosystem in Paris for three days of business, innovation, and collaboration. True to its Pushing the Limits motto, the 2026 edition delivered outstanding results despite travel disruptions worldwide. The numbers speak for themselves: more than 1,400 exhibitors from over 50 countries, including over 150 first-timers, presented a global panorama of products, equipment, and services across the entire composites value chain.

Covestro to exhibit solutions for a more sustainable and productive textile industry at Techtextil 2026

Covestro will present a broad portfolio of material innovations for textile coatings, adhesive films and thermoplastic polyurethanes (TPUs) at Techtextil 2026 (Hall 11.0, Booth C79). The exhibits will demonstrate how advanced solutions can enhance durability, recyclability and manufacturing efficiency across applications such as automotive, infrastructure, protective apparel and sportswear. A particular focus will be on more sustainable coating technologies, including antimicrobial systems based on INSQIN® in combination with AGXX from Heraeus Precious Metals, as well as the integration of Pontacol® thermoplastic adhesive films into Covestro’s offering.