Home / Knowledge / News / Apparel/Garments / H&M H1 FY'13 sales down 4%
H&M H1 FY'13 sales down 4%
19
Jun '13
Hennes & Mauritz reported results for the second quarter and for half year ending on 31st May 2013.

FIRST HALF-YEAR

- The H&M Group’s sales including VAT increased in local currencies by 5 percent during the first six months of the financial year. Sales in comparable units decreased by 4 percent. Converted into SEK, sales excluding VAT amounted to SEK 60,027 m (59,491), an increase of 1 percent.

- Profit after financial items amounted to SEK 9,359 m (10,754). The Group’s profit after tax amounted to SEK 7,113 m (7,958), corresponding to SEK 4.30 (4.81) per share. Substantial negative currency translation effects and long-term investments during the period make it difficult to compare the results with the corresponding period last year.

SECOND QUARTER

- The H&M Group’s sales including VAT increased in local currencies by 5 percent during the second quarter. Converted into SEK, sales excluding VAT amounted to SEK 31,635 m (31,658). Sales in comparable units decreased by 4 percent.

- Continued substantial negative currency translation effects as a result of the continued strengthening of the Swedish krona against most sales countries’ currencies. The reported sales of SEK 36,923 m including VAT would have been approximately SEK 1.8 billion higher using the same currency rates as in Q2 2012.

- Gross profit amounted to SEK 19,337 m (19,546), corresponding to a gross margin of 61.1 percent (61.7). Increased markdowns have negatively affected the gross margin by 0.9 percentage points in relation to sales compared to the corresponding quarter last year.

- Profit after financial items amounted to SEK 6,125 m (7,053). The Group’s profit after tax amounted to SEK 4,655 m (5,219), corresponding to SEK 2.81 (3.15) per share, a decrease of 11 percent.

- A successful start for & Other Stories and continued very good performance by COS.

- Sales have got off to a good start in June. Sales increased by 14 percent in local currencies in the period 1 June – 17 June 2013 compared to the same period last year.

H&M


Interviews View All

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Fabio Grandis,

Fabio Grandis

Italian company Grandis SRL has been operating in the textile industry for ...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

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

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


September 2019

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

news category


Related Categories:

Advanced Search