Home / Knowledge / News / Apparel/Garments / H&M sales surge 12% in Q3 FY'14
H&M sales surge 12% in Q3 FY'14
27
Sep '13
Hennes & Mauritz reported results for the third quarter and for nine months (1 December 2012 – 31 August 2013).

NINE-MONTHS

- The H&M Group’s sales including VAT increased in local currencies by 8 percent in the first nine months of the financial year. Sales in comparable units decreased by 2 percent. Converted into SEK, sales excluding VAT amounted to SEK 92,067 m (88,297), an increase of 4 percent.

- Profit after financial items amounted to SEK 15,189 m (15,649). The Group’s profit after tax amounted to SEK 11,544 m (11,580), corresponding to SEK 6.97 (7.00) per share.

THIRD QUARTER

- The H&M Group’s sales including VAT increased in local currencies by 12 percent in the third quarter. Converted into SEK, sales excluding VAT amounted to SEK 32,040 m (28,806). Sales in comparable units increased by 2 percent.

- Gross profit amounted to SEK 18,828 m (16,771), corresponding to a gross margin of 58.8 percent (58.2).

- Profit after financial items amounted to SEK 5,830 m (4,895). The Group’s profit after tax amounted to SEK 4,431 m (3,622), corresponding to SEK 2.68 (2.19) per share, an increase of 22 percent.

- H&M’s online store in the US, launched in August, has got off to a good start.

- H&M’s first stores in Lithuania and Serbia were very well received on opening in August.

-Sales increased by 8 percent in local currencies in the period 1 September – 24 September 2013 compared to the same period last year. The full month of September will have a negative calendar effect of approximately 2 percentage points for the H&M Group.         

Comments by CEO Karl-Johan Persson

“The third quarter has been very good as regards both sales and profits. Profits after financial items increased by nearly SEK 1 billion. Our well received summer collections have resulted in strong sales development in the quarter, particularly in Asia but also in a number of European markets. We have also seen the very successful launch of our online store in the US in August and can see that our offering stands up well in the world’s largest online market.

Our expansion is strong. It is not long since we opened our 2,000th store in 2010, and this September – only three years later – we opened our store number 3,000 in Chengdu, one of China’s major cities. China is the country where our expansion is strongest, but we are also expanding in other exciting regions.

We have opened 215 new stores so far this year and have had successful openings in four new H&M countries: Chile, Lithuania, Serbia and Estonia. In October this year we will open in another country in Southeast Asia – in Indonesia via franchise – and in the first half of 2014 we will open our first store in Melbourne, Australia. In 2015 we plan to open in South Africa.

We are also continuing to work on our other brands as well as on our global roll-out of online shopping with the aim of launching our online store in more markets during 2014. Expansion continues for our other brands, especially COS and & Other Stories, which continue to do well and will expand even more rapidly next year.”                                          

H&M

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search