We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Aug 11, 20205:59pm

H&M raises its profit for the first time in four years and sees a 6% increase in 2019

The Swedish retail giant ended the last fiscal year (concluded on November 30) with a profit of 13.4 billion Swedish kronor (1.4 billion dollars).

Jan 30, 2020 — 9:16am
MDS
Related topics
Save

H&M raises its profit for the first time in four years and sees a 6% increase in 2019

 

 

H&M reverts to profitability. After three years of profit reduction, the Swedish fashion distribution giant has ended the fiscal year of 2019 with a profit of 13.4 billion crowns (1.4 billion dollars), 6.3% more than the previous year.

 

The company explains that the benefit has been positively affected by a “one-off tax income of SEK 425 m (44 million dollars) as a result of the US taxes reform.”

 

The group’s gross profit stood at 122 billion crowns (12.7 million dollars), up 10.4%, which represents a gross margin of 52.6%, in line with 52.7% of the previous year.

 

 

 

Sales, which had already been advanced at the end of last year, increased by 11%, the biggest increase since 2015, to 232,755 million crowns (12,7 billion dollars). H&M attributes this rise to the transformation process that the company is immersed in, and which has also allowed it to increase sales at full price, reduce discounts and increase its market share.


The trend is replicated in the fourth quarter. Between September 1 and November 30, H&M increased its sales by 9%, to 61,694 million crowns (12,7 billion dollars) and increased its profit by 18.9%, to 4,212 million crowns (12,7 million dollars).

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...