H&M Group’s net sales increased 11 per cent to SEK 57,474 m (51,984) in Q2. In local currencies, net sales increased 6 per cent compared with the corresponding quarter last year.
The group’s gross profit was SEK 31,825 m (29,164). This corresponds to a gross margin of 55.4 per cent (56.1). Its profit after financial items amounted to SEK 5,934 m (6,012). The group’s profit after tax amounted to SEK 4,569 m (4,638), corresponding to SEK 2.76 (2.80) per share. As customer satisfaction and sales increase, the group has intensified its transformation work even further, which had a dampening effect on earnings development.
In April, H&M became the first big fashion brand in the world to provide detailed information concerning the factory and material for individual garments to help customers make more sustainable choices. It also launched its online store in Mexico during the quarter.
