>>
Home / Knowledge / News / Apparel/Garments / H&M net sales jump 11% to SEK 171,061 mn in first 9 months

H&M net sales jump 11% to SEK 171,061 mn in first 9 months

04
Oct '19
Pic: H&M
Pic: H&M
H&M group's net sales increased 11 per cent to SEK 171,061 million during first nine months of year 2018-19 ending August 31. In local currencies, net sales increased by 6 per cent. H&M's net sales increased by 12 per cent to SEK 62,572 million in Q3 of 2019. In local currencies, net sales increased by 8 per cent compared to Q3 of previous year.

The group's profit after tax for the first 9 months increased to SEK 9,231 million, corresponding to SEK 5.58 per share.

Online sales in the third quarter increased by 30 per cent in SEK and by 25 per cent in local currencies. Gross profit increased by 13 per cent to SEK 31,815 million.

At the end of the third quarter H&M launched on Myntra, India's leading e-commerce platform, while & Other Stories opened on Tmall in China and H&M online was launched in Indonesia, followed by Thailand in September. H&M also opened its first store in Belarus, bringing us to a total of 73 markets. All the launches and openings got a good reception.

Sales of the company increased by 8 per cent in local currencies in September 2019 compared to September 2018.  

"Well-received summer collections and increased market share show that we are on the right track with our transformation work to meet customers' ever-increasing expectations. The continued development of more full-price sales and reduced markdowns contributed to a 26 per cent increase in operating profit in the third quarter, all while maintaining a high level of activity in our transformation work," said Karl-Johan Persson, CEO of H&M.

"Growth was good in many markets, including the US where sales in local currencies rose by 19 per cent, Poland by 20 per cent, Italy by 15 per cent, Russia by 12 per cent and India by 29 per cent. Sales also developed strongly in South America – in Chile, for example, where we grew by 32 per cent. However, things were a bit tougher in some of our franchise markets due to challenging macro factors. Total sales in the group increased by 12 per cent in SEK and 8 per cent in local currencies in the third quarter. The sales growth was driven by both stores and online, with a very strong increase in online sales of 30 per cent in SEK and 25 per cent in local currencies," added Persson.

Fibre2Fashion News Desk (PC)


Must ReadView All

Pic: Shutterstock

Textiles | On 17th Jan 2022

China’s GDP increases by 8.1% in 2021

The GDP of China was 114,367 billion yuan in 2021, an increase of 8.1 ...

Pic: Shutterstock

Textiles | On 17th Jan 2022

EU-UK bilateral trade of textiles witness major drop: EURATEX

The imports and exports of textiles between the EU and UK have...

Pic: Shutterstock

Textiles | On 17th Jan 2022

Canada-Vietnam sign MoU for joint economic committee

Canada and Vietnam recently signed a memorandum of understanding...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Ahmet Gecikli,

Ahmet Gecikli

Ser Mekatronik, founded in 2008, is specialised for providing mechanical...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Dahlia Razzrook, Label - Dahlia Razzook

Dahlia Razzrook
Label - Dahlia Razzook

London based designer, <b>Dahlia Razook</b> known for her luxury...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

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

Leave your Comments

ESTEEMED CLIENTS

Rosset ;& Cia Limited
Brandix Lanka Limited
Sainsbury's Argos Asia Limited
SYNERGIES HONG KONG LIMITED
Target Corporation (MN)
KIABI
KAS Direct Sourcing
Tchibo GmbH
H;&M Hennes ;& Mauritz (Far East) Ltd
Phong Phu international JSC (PPJ)
Abit
Benetton Group
International Textile Manufacturers Federation
THE BOMBAY DYEING ;& MFG.CO. LTD
Permoda(Koaj/Armi/Pronto/Bkul)
Calvin Klein
Eastman Chemical Company
Tory Burch Hong Kong Ltd

January 2022

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


Advanced Search