Home / Knowledge / News / Apparel/Garments / H&M Group's H1 FY'14 sales boost 14%
H&M Group's H1 FY'14 sales boost 14%
18
Jun '14
Hennes & Mauritz (H&M) AB reports results for the period of first six months for 2014.
 
First half-year (1 December 2013 — 31 May 2014)
The H&M Group’s sales including VAT increased in local currencies by 14 percent during the first six months of the financial year. Converted into SEK, sales excluding VAT amounted to SEK 69,970 m (60,027), an increase of 17 percent. 
 
Profit after financial items amounted to SEK 11,129 m (9,359), an increase of 19 percent. The group’s profit after tax increased to SEK 8,458 m (7,113), corresponding to SEK 5.11 (4.30) per share.
 
Second quarter (1 March 2014 — 31 May 2014)
Well-received spring collections resulted in strong sales and increased market share. The H&M Group’s sales including VAT increased in local currencies by 16 percent during the second quarter. Converted into SEK, sales excluding VAT amounted to SEK 37,827 m (31,635), an increase of 20 percent. 
 
Gross profit amounted to SEK 23,010 m (19,337), an increase of 19 percent. This corresponds to a gross margin of 60.8 percent (61.1). 
 
Profit after financial items amounted to SEK 7,643 m (6,125), an increase of 25 percent. The group’s profit after tax increased to SEK 5,809 m (4,655), corresponding to SEK 3.51 (2.81) per share, an increase of 25 percent. 
 
H&M’s first store in Australia has had a fantastic reception since opening at the beginning of April. 
 
H&M’s online sales in France, which were launched in March, have got off to a very good start. 
 
Strong sales development for the other brands in the H&M Group: COS, & Other Stories, Monki, Weekday, Cheap Monday and H&M Home. 
 
Sales in June have so far got off to a good start.  An extended shoe range will be launched in early autumn 2014.  Strong expansion in 2014, with approximately 375 new stores net in total. The Philippines and India will become new H&M countries in autumn 2014. Three large new online markets in autumn 2014: Spain, Italy and China. H&M plans to open 8 – 10 new online markets in 2015.
 
Karl-Johan Persson, CEO, commented, “We have had a good second quarter with a strong increase in both sales and profits and increased market share. Well-received collections and continued strong expansion led to a sales increase of 20 percent in SEK and 16 percent in local currencies. The strong sales development together with good cost control contributed to an increase in operating profits of 26 percent.

Must ReadView All

Textiles | On 27th Feb 2017

Surat to get a mega textile park, centre of excellence

The textiles ministry is positively working on the proposals for a...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: Invista

Textiles | On 27th Feb 2017

Invista explores alternatives for apparel & textile trade

Invista, one of the world's largest integrated producers of chemical...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Lynda Kelly
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

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

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
February 2017

February 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