Home / Knowledge / News / Fashion / H&M nine months' sales up 7 per cent
H&M nine months' sales up 7 per cent
30
Sep '17
Courtesy: H&M
Courtesy: H&M
The H&M group's sales including VAT increased 7 per cent to SEK 173,290 million (161,767) during the first nine months from December 1, 2016 to August 31, 2017. The company's sales excluding VAT amounted to SEK 149,597 million (139,547), an increase of 7 per cent. In local currencies, the sales increased by 4 per cent for the same period.

For the third quarter of fiscal 2017, the company's sales including VAT increased by 5 per cent to SEK 59,383 million (56,802). Sales excluding VAT amounted to SEK 51,229 million (48,982), an increase of 5 per cent. In local currencies, sales increased by 4 per cent. Gross profit amounted to SEK 26,350 million (26,471), corresponding to a gross margin of 51.4 per cent (54.0).

"The fashion retail sector is growing and is in a period of extensive and rapid change as a result of ongoing digitalisation. The competitive landscape is being redrawn, new players are coming in and customers’ behaviour and expectations are changing, with an ever greater share of sales taking place online," said Karl-Johan Persson, chief executive officer.

H&M’s online store will open in further two markets in 2017 - the Philippines and Cyprus - in addition to the six online markets that have already opened in 2017. The roll-out of online markets will continue during 2018 with among others in India. The plan is to offer e-commerce in all of the store markets in the future as well as in other markets. The group’s online sales are estimated to grow by at least 25 per cent per year going forward.

"This shift is clearly reflected in our online sales, which continue to develop very well. However, our growing online sales did not fully compensate for reduced footfall to stores in several of our established markets, which has resulted in our total sales development not reaching our targets so far this year. This is of course something that we are not satisfied with and which, among other things, resulted in that we entered the third quarter with inventory levels that were too high," added Persson.

"We are continuing to develop our assortment within all our brands, while at the same time rapidly making the following investments in order to seize the opportunities that arise with the shift within the industry. We are looking forward to our capital markets day in February 2018, at which we will have the opportunity to tell more about how we are addressing the significant changes taking place in the industry and how we will further strengthen our position going forward," concluded Persson. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Frank Gossmann
Rotorcraft AG

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Johan Berlin
InvestKonsult Sweden AB

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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

Yes No

Active Poll

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

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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

Yes No

Active Poll

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

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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

Active Poll

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

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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