First half-year (
- The
H&M group's net sales in SEK increased by 20 percent in the first half-year toSEK 103,670 m (86,569). In local currencies the increase was 15 percent. - Well-received collections led to a higher share of full-price sales and lower costs for markdowns.
-
Gross profit increased to
SEK 54,106 m (44,106). This corresponds to a gross margin of 52.2 percent (50.9). -
Operating profit increased to
SEK 5,446 m (2,724), corresponding to an operating margin of 5.3 percent (3.1). For rolling 12 months the operating margin was 8.3 percent (4.9). -
The group's profit after tax increased to
SEK 3,899 m (1,697), corresponding toSEK 2.36 (1.03) per share. -
Cash flow from operating activities amounted to
SEK 12,591 m (20,219). -
Financial net cash increased to
SEK 16,313 m (12,799). Cash and cash equivalents plus undrawn credit facilities amounted toSEK 44,483 m (43,517).
Second quarter (
- Net sales increased by 17 percent to
SEK 54,504 m (46,509). In local currencies the increase was 12 percent. ExcludingRussia ,Belarus andUkraine sales increased by 17 percent in local currencies. -
Gross profit increased to
SEK 29,846 m (25,049). This corresponds to a gross margin of 54.8 percent (53.9). - The well-received collections led to costs for markdowns decreasing by around 1 percentage point in relation to sales.
-
Operating profit increased to
SEK 4,988 m (3,852), corresponding to an operating margin of 9.2 percent (8.3). -
Profit after financial items increased by 33 percent to
SEK 4,782 m (3,593). -
The group's profit after tax increased to
SEK 3,682 m (2,767), corresponding toSEK 2.22 (1.67) per share.
-
The board of directors has decided to buy back own B shares for
SEK 3 billion starting from29 June 2022 . -
Sales in the month of
June 2022 is expected to decrease by 6 percent in local currencies compared withJune 2021 . The paused sales inRussia ,Belarus andUkraine represent 5 percentage points of the decrease. The June figure should be seen in the light of a very strong comparison base inJune 2021 , an increase by 24 percent, while July and August increased by 6 percent. H&M is accelerating its expansion inLatin America . A large number of leases have been signed for new stores.
"The
Comments by
"Well-received collections have led to strong development, with a further increase in full-price sales and decrease in markdowns. Sales in physical stores increased substantially while online continues to do well. This once again shows the value of having both physical and digital channels which strengthen and complement each other. The integration of the sales channels is therefore ongoing, in parallel with continual initiatives - in particular within tech, the supply chain and sustainability.
Although most of the restrictions associated with the Covid-19 pandemic essentially seem to be over, many challenges remain. Disruption and delays still exist in the supply chain, but are gradually being eased. At the same time, there is substantial inflation. The situation associated with the war in
To navigate in a rapidly changing world it is more important than ever to be flexible and able to take quick decisions. As a direct consequence of the challenges in the world around us we are carrying out extensive work to prioritise initiatives, redistribute resources and ensure continued good profitability. We have a well-positioned customer offering and are fully focused on meeting customers' ever-increasing expectations. Despite the significant inflation in the world, customers must always feel confident that with all the
Communication in conjunction with the six-month report
The six-month report, i.e.,
A telephone conference for the financial market and media will be held in English at 14.00 CEST, hosted by CEO
https://event-registration.arkadin.com/62a1e6873d876e39fbc13347.
To book interviews in conjunction with the six-month report on
Contact
SE-106 38 Stockholm
Phone: +46-8-796 55 00, e-mail: info@hm.com
Registered office:
For more information about the
Information in this interim report is that which
https://news.cision.com/h---m-hennes---mauritz-ab/r/h---m-hennes---mauritz-ab-six--month-report,c3593078
https://mb.cision.com/Main/769/3593078/1598407.pdf
(c) 2022 Cision. All rights reserved., source