First half-year (
- The
H&M group's net sales in local currencies increased by 12 percent in the first half of 2021 compared with the corresponding period last year. Converted into SEK the group's net sales amounted toSEK 86,569 m (83,612). The pandemic led to reduced footfall as a result of continued restrictions and store closures. At the most, around 1,800 stores were temporarily closed, i.e. around 36 percent of the group's total number of stores. -
Profit after financial items increased to
SEK 2,204 m (-3,978). The group's profit after tax amounted toSEK 1,697 m (-3,063), corresponding toSEK 1.03 (-1.85) per share. -
Cash flow from operating activities amounted to
SEK 20,219 m (3,916). -
Net cash amounted to
SEK 12,799 m (-11,919). - Online sales have continued to develop very well, even as stores have been allowed to reopen.
Second quarter (
- The
H&M group's net sales in local currencies increased by 75 percent in the second quarter 2021 compared with the corresponding period last year. Converted into SEK net sales amounted toSEK 46,509 m (28,664). At the start of the quarter around 1,300 stores were temporarily closed and at the end around 140 stores remained closed. - Online sales increased by 40 percent in local currencies and 32 percent in SEK.
-
Gross profit increased by 89 percent to
SEK 25,049 m (13,284). This corresponds to a gross margin of 53.9 percent (46.3). -
Continued good cost control. Profit after financial items increased by
SEK 10 billion toSEK 3,593 m (-6,482). -
Profit after tax amounted to
SEK 2,767 m (-4,991), corresponding toSEK 1.67 (-3.02) per share. -
The stock-in-trade decreased to
SEK 35,866 m (40,000). -
In the second quarter the programme to streamline invoice management and payment processes freed up a further just over
SEK 3 billion of working capital. -
In March
H&M opened online inQatar via franchise and during the quarterH&M was also successfully launched on the e-commerce platformZalora inIndonesia ,the Philippines ,Malaysia andSingapore . H&M 's customer loyalty programme now has around 130 million members in 27 markets. An increase of 50 million members in one year.-
Sellpy, the second-hand platform part-owned by
H&M group, was launched in an additional 20 markets and is now available in a total of 24 markets.
-
Net sales in the period
1-28 June 2021 increased by 25 percent in local currencies compared with the corresponding period last year. Sales are still affected by reduced footfall as a result of continued restrictions and store closures. At present, around 95 stores are still temporarily closed. - The company's financial position remains strong and the board's assessment is that there will be very good prospects of a cash dividend in autumn 2021.
Cambodia will become a newH&M market via franchise in 2022.
"With our much-appreciated collections, our ongoing transformation and the fact that markets are gradually being opened up, our recovery is strong. Online sales have continued to develop very well even as the stores have opened, which shows that customers appreciate the collections and being able to shop via their preferred channel," says
Comments by
Both existing and new customers are showing every day that they appreciate our customer offering with the best combination of fashion, price, quality and sustainability. Our long-term digital investments and increasingly integrated sales channels, along with more efficient ways of working and our customer focus, have been important during the pandemic. By being flexible and adapting quickly, all parts of the company have contributed to the recovery. At the same time, we can never sit back and relax. We are driven by a passion to continually improve the customer offering and the customer experience.
Our transformation therefore continues at full speed in order to meet customers' increased expectations and strengthen our competitiveness further. Here I would like to highlight our initiatives within tech, AI and the supply chain, where we have made great progress while still seeing further opportunities within areas such as greater precision and local relevance.
In the wake of the pandemic we are seeing increasing demand globally for fashion that provides value for money and is sustainable, which we are well positioned for. Our brands are also offering an increasing number of services for a more sustainable lifestyle. In combination with our work to become circular and climate positive, we are also increasing the share of sustainable and renewable materials. We are developing the existing business and are also creating new complementary revenue streams. Together with profitable online growth and continued store optimisation this will contribute to long-term, profitable and sustainable growth for the
Read more about our initiatives in the section Initiatives for an improved customer experience on page 11.
Communication in conjunction with the six-month report
The six-month report, i.e.
For log in details for the telephone conference please register at hmgroup.com or via this link: http://emea.directeventreg.com/registration/6038204.
To book interviews with CEO
Contact | |
+46 8 796 52 50 | |
+46 8 796 55 00 (switchboard) | |
+46 8 796 55 00 (switchboard) |
SE-106 38 Stockholm
Phone: +46-8-796 55 00, fax: +46-8-20 99 19, 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,c3377666
https://mb.cision.com/Main/769/3377666/1439294.pdf
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