#Retail & Brands
H&M Group reports robust Q2 and six-month performance
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.
