#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.

Durak Tekstil enters 2026 with positive momentum, strengthens its global market focus

Durak Tekstil, maintaining its profitability and turnover levels in 2025 compared to the previous year, prioritizes growth through its export-oriented sales strategy. Increasing both its capacity and utilization rate, the company anticipates further gains in 2026 through expansion in global markets.

Global textile expertise meets high-end contract design: Heimtextil and Hospitality Interiors Europe announce partnership starting 2027

Heimtextil further expands its role as the global leading trade fair for home and contract textiles and textile design – and starts a new partnership with the format Hospitality Interiors Europe (HINT). With the launch, a complementary event will take place alongside Heimtextil 2027, targeting decision-makers from the hotel and high-end hospitality design sector. Both platforms combine their strengths, create tangible synergies for exhibitors and visitors – and expand the holistic interior design offering for architecture, interior design, hospitality and the contract sector. Hospitality Interiors Europe already presents itself at Heimtextil 2026 with its own dedicated lounge area.

Tunicotex Group boosts OTDP to 85%, cuts planning time by 25% & expands production capacity by 40%

Coats Digital is delighted to announce that following the implementation of FastReactPlan, leading Tunisian premium knitwear manufacturer, Tunicotex Group, has significantly improved its on-time delivery performance from 75% to 85%, reduced planning time by 25%, minimised delays and penalty costs, and unlocked 40% additional capacity to take on more customer orders and support sustained business growth.

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.

Artificial Intelligence in focus: Heimtextil 2026 prepares global textile industry for the future with strong content programme

Artificial intelligence (AI) rapidly transforms the textile industry - from creation and production to pricing, distribution and communication. But how can AI be applied successfully, and where does it truly add value? Heimtextil addresses these questions from 13 to 16 January 2026: The comprehensive programme dedicated to the key future field AI strengthens the global industry and opens up new business opportunities as well as practical applications for design, retail, industry, architecture, interior design and contract furnishing.

Texpertise Focus AI: Messe Frankfurt puts Artificial Intelligence centre stage at its international textile and apparel trade fairs

Under the banner 'Texpertise Focus AI, Messe Frankfurt will place a strong emphasis on Artificial Intelligence (AI) across its international textile and apparel trade fairs from 2026 onwards, setting a future-shaping signal for the industry. The initiative highlights the responsible use of AI along the entire textile value chain, from fibre production to the point of sale. The programme will launch at Heimtextil in Frankfurt in January 2026.