Home / Knowledge / News / Apparel/Garments / Sales of H&M climb 10% in Q1FY19

Sales of H&M climb 10% in Q1FY19

04
Apr '19
Pic: H&M
Pic: H&M
The H&M group’s net sales have increased 10 per cent to SEK 51,015 million in the first quarter of fiscal 2019. In local currencies, net sales have climbed 4 per cent. The ongoing transformation work has contributed to continued positive sales development with more full-price sales, lower markdowns and increased market share in many markets.

During the quarter the company successfully transitioned the online platform in Germany. One of the measures to ensure a smooth, well-executed transition was to deliberately hold back on sales activities in Germany, which had a dampening effect on online sales. Adjusted for Germany’s online sales, the group’s total net sales increase was 6 per cent in local currencies, H&M said in a press release.

"Our ongoing transformation work has contributed to stronger collections with increased full-price sales, lower markdowns and increased market shares. Sales developed well both in stores and online in many markets, including Sweden which grew by 11 per cent, the UK by 8 per cent, Poland by 15 per cent, China by 16 per cent and India by 42 per cent in local currencies," Karl-Johan Persson, CEO.

The quarter’s pre-tax profit of SEK 1,043 million was negatively affected by the drop in sales in Germany, but also by costs of around SEK 250 m associated mainly with the replacement of the online platform in Germany as well as continued costs relating to implemented and upcoming transitions to new logistics systems. This is having a negative effect on our margin in the short term but will have a positive effect in the longer term as it will result in a faster, more flexible and more efficient product flow.

"All markets are now on the new online platform. For our customers in the German market this means improvements such as faster and more flexible deliveries, and better integration between our physical stores and the online store," added Persson. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Pexels/Hugo Heimendinger

Textiles | On 25th Feb 2021

Vietnam's growth outlook linked to response to new

Vietnam’s growth prospects will depend on how well and quickly its...

Pic: Puma

Apparel/Garments | On 25th Feb 2021

Puma reports sales of €5.2 bn in FY20

Puma, a Germany-based manufacturer of athletic and casual footwear,...

Pic: Zalando

E-commerce | On 25th Feb 2021

Zalando expands online store Zircle to Sweden & Denmark

Zalando has expanded Zircle, a webshop dedicated to consumers looking ...

Interviews View All

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Mukesh Bansal,

Mukesh Bansal

Vardhman is one of the largest integrated textile manufacturers of India...

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

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

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

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

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

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

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

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

Leave your Comments


February 2021

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


Advanced Search