Home / Knowledge / News / Fashion / H&M 2017 sales up 4% to SEK 231,771 million
H&M 2017 sales up 4% to SEK 231,771 million
02
Feb '18
Courtesy: H&M
Courtesy: H&M
The H&M group's sales including VAT increased 4 per cent to SEK 231,771 million (222,865) in the financial year 2017. Sales rose 3 per cent in local currencies. Sales excluding VAT amounted to SEK 200,004 m (192,267). For the reported period, company's gross profit rose to SEK 108,090 million (106,177). This corresponds to a gross margin of 54.0 per cent.

For the fourth quarter ending November 2017, sales including VAT amounted to SEK 58,481 million (61,098), a decrease of 4 per cent. In local currencies, the decrease was 2 per cent. Sales excluding VAT amounted to SEK 50,407 million (52,720).  For the reported period, the gross profit amounted to SEK 27,929 million (30,027), corresponding to a gross margin of 55.4 per cent (57.0).

"Our performance during 2017 was mixed, with progress in some areas but also difficulties in others. We delivered growth of 3 per cent in 2017 which is clearly below our expectations. In the fourth quarter our sales overall decreased by 2 per cent in local currencies. Our online sales and our newer brands performed well but the weakness was in H&M’s physical stores where the changes in customer behaviour are being felt most strongly and footfall has reduced with more sales online. In addition, some imbalances in certain aspects of the H&M brand’s assortment and composition also contributed to this weaker result," said Karl-Johan Persson, CEO.

A continued roll-out of H&M’s online store is planned to another four markets during the financial year 2017/2018: India, and via franchise to Saudi Arabia and the United Arab Emirates. Kuwait was opened in December 2017 via franchise. In 2018 the H&M group plans to open approximately 390 new stores and approximately 170 store closures are planned, resulting in a net addition of approximately 220 stores. New planned H&M store markets are Uruguay and Ukraine.

"The H&M group is developing new brands for new needs and new segments – we now have eight brands that are all scalable – and we will soon launch our ninth brand, Afound. We will constantly optimise and refine our physical store portfolio. There is still potential for strong growth in some regions whereas in others we can get a better balance by reducing store space. We constantly work on new ideas and innovations that will drive us forward – and there are many in our pipeline for 2018 and the years to come," concluded Persson. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

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

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

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

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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 2018

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

news category


Related Categories:

Advanced Search