Home / Knowledge / News / Apparel/Garments / Net profit for fiscal 2016 slips 10.84% at H&M
Net profit for fiscal 2016 slips 10.84% at H&M
01
Feb '17
Net profit for the twelve months ended November 30, 2016 at global apparel retailer H&M, slipped 10.84 per cent to SEK 18,636 million or SEK 11.26 per share as against SEK 20,898 million or 12.63 per share in fiscal 2015. In fiscal 2016, sales excluding VAT amounted to SEK 192,267 million compared to SEK 180,861 million in the previous fiscal.

Gross profit for the reporting period grew SEK 106,177 million, corresponding to a gross margin of 55.2 per cent vis-à-vis SEK 103,167 million in the fiscal ago period, which corresponds to a gross margin of 57.0 per cent.

During fiscal 2016, H&M undertook very strong expansion with a total net addition of 427 stores versus 413 new stores in the earlier fiscal. At the end of the fiscal, H&M was managing 4,351 stores in 64 countries.

The retailer created 3,000 new jobs in period under review and at the end of the fiscal was employing more than 161,000 employees. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: University of York

Textiles | On 30th Nov 2020

UK scientists working to reduce textile industry waste

Scientists at the University of York and the Royal College of Art are ...

Pic: Material Exchange

Textiles | On 30th Nov 2020

Material Exchange raises €5 million for sustainability

Material Exchange has announced the closing of a €5 million funding...

Pic: Shutterstock

Apparel/Garments | On 30th Nov 2020

Gap reports sales of $3.99 bn in Q3 FY20

Gap Inc, a US-based specialty apparel company, has reported its...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Farmers who produce seeds earn 50 per cent more

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Dejan Lalevic,

Dejan Lalevic

Mesdan SPA, a subsidiary of Italian firm Savio Macchine Tessili,...

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

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

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


November 2020

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


Advanced Search