Home / Knowledge / News / Apparel/Garments / H&M clocks 12% rise in H1 FY'12 sales

H&M clocks 12% rise in H1 FY'12 sales

20
Jun '12
Hennes & Mauritz Ab (H&M) announced report for the six month ended May 31, 2012.

The First Half-Year

  • The H&M Group’s sales including VAT increased by 12 percent in local currencies in the first six months of the financial year. Sales in comparable units increased by 3 percent. Converted into SEK, sales excluding VAT amounted to SEK 59,491 m (52,135), an increase of 14 percent.
  • Profit after financial items increased by 16 percent and amounted to SEK 10,754 m (9,290). Group profit after tax was SEK 7,958 m (6,875), corresponding to SEK 4.81 (4.15) per share.

The Second Quarter

  • The H&M Group’s sales including VAT increased by 12 percent in local currencies in the second quarter. Sales in comparable units increased by 2 percent. Converted into SEK, sales excluding VAT amounted to SEK 31,658 m (27,632), an increase of 15 percent.
  • Gross profit amounted to SEK 19,546 m (17,057), corresponding to a gross margin of
  • 61.7 percent (61.7).
  • Profit after financial items increased by 23 percent and amounted to SEK 7,053 m (5,752). Group profit after tax was SEK 5,219 m (4,257), corresponding to SEK 3.15 (2.57) per share.

In addition to the five new markets that H&M will open in 2012, H&M plans to open stores in several new markets in 2013. The markets where store contracts for 2013 have so far been signed are Estonia and Indonesia.

Comments by Karl-Johan Persson, CEO

“The year started well and the positive trend continued in the second quarter. In the second quarter we saw strong sales and profitability development, with a profit increase of 23 percent. The spring collections have been well received by our customers as shown by our increased market share in a fashion retail market that continues to be challenging.

“H&M’s attractive customer offering is appreciated by customers in all our 44 markets, in big cities as well as small cities – and in both countries with strong economic growth and countries with a tough macroeconomic climate.

Our expansion plan remains intact. We plan to open around 275 new stores net during the full-year. We continue to open new stores in all current markets and we will add five new markets during the year: Bulgaria, Mexico, Latvia, Malaysia and Thailand. In addition, online sales will be launched in the autumn in the US, the world’s largest online market.”

Hennes & Mauritz Ab (H&M)


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Feb 2020

Turkey, Pak want to raise bilateral trade volume to $5 bn

Turkey and Pakistan want to raise bilateral commercial and economic...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

Bangladesh RMG exporters expect order shift from Cambodia

Bangladesh's readymade garment (RMG) exporters feel the suspension of ...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

GMAC dissatisfied with EU following partial EBA suspension

Expressing disappointment over the February 12 decision by the...

Interviews View All

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Alon Moshe,

Alon Moshe

Israel-based Twine Solutions is a technology start-up that has developed a ...

Verena Ruckh,

Verena Ruckh

Brückner Trockentechnik develops, manufactures and supplies textile...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

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

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


February 2020

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


Advanced Search