Home / Knowledge / News / Apparel/Garments / Hennes & Mauritz performs well in challenging environment
Hennes & Mauritz performs well in challenging environment
Sep '11
Hennes & Mauritz Ab (H&M) announced Nine-Month Report.

The H&M Group's sales including VAT increased by 9 percent in local currencies in the first nine months of the financial year. Sales in comparable units were unchanged. Sales in SEK were strongly negatively affected by currency translation effects. Converted into SEK, sales excluding VAT amounted to SEK 79,047 m (78,772).

Profit after financial items amounted to SEK 14,140 m (17,830). Group profit after tax was SEK 10,464 m (13,194), corresponding to SEK 6.32 (7.97) per share.

The H&M Group's sales including VAT increased by 5 percent in local currencies in the third quarter. Sales decreased by 3 percent in comparable units. Converted into SEK, sales excluding VAT amounted to SEK 26,912 m (26,893).

Gross profit amounted to SEK 15,766 m (16,279), corresponding to a gross margin of 58.6 percent (60.5).

Profit after financial items amounted to SEK 4,850 m (5,735). Group profit after tax was SEK 3,589 m (4,244), corresponding to SEK 2.17 (2.56) per share.

H&M's first store in Singapore opened in September and was very well received.

Increased expansion for the financial year 2011 from 250 to approximately 265 new stores net.

The autumn collections have been well received even though the start of the season has been negatively affected by unseasonably warm weather in large parts of Europe. Sales in the period 1 – 27 September 2011 increased by 3 percent in local currencies compared to the same period last year.

COS and Monki launched online sales in 18 markets at the end of September 2011.

Indonesia and Thailand are scheduled to become new franchise markets for H&M during 2012.
Comments on the third quarter by Karl-Johan Persson, CEO

”H&M continues to gain market share in a challenging environment for the fashion retail industry. This shows H&M's strong market position and we see it as a proof that customers appreciate our work on the customer offering.

We have great respect for the current economic climate. In this situation, it is extra important to have a long-term perspective and to always make sure that we give customers the best combination of fashion and quality for their money in every market.

We have a strong business concept, a strong financial position and we are continuing to grow with high profitability. We are increasing our expansion for full-year 2011 to approximately 265 new stores net, from the originally planned 250.”

H & M Hennes & Mauritz AB was founded in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company's business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home.

Hennes & Mauritz AB (H&M)

Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search