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H&M on the mend

12 February 2019

WORLD H&M has seen an improvement in its financial results for the 2018 financial year (December-November) after having restructured and invested in multichannel sales.
Its net sales improved by 5 pct to SEK 210 bln (app. EUR 20 bln) and up by 3 pct in local currencies. The chain’s online sales increased significantly over the year and they came to SEK 30 bln up by 22 pct (21 pct in local currencies) and accounted for 14.5 pct of the total sales of the group. Its profit came to SEK 110.9 bln gross while its gross margin was 52.7 pct and profit after tax came to SEK 12.7 bln.

“It was a year full of challenges for the H&M group. After a difficult first half, we saw the signs that our efforts to transform the company were beginning to bear fruit. Better collections generated better sales at full price with fewer discounts by the end of the year. As a result we stepped up our changes in Q4, and concentrated especially on improving our logistics. Our activities have resulted in increased costs but will lead to a number of improvements for customers,” stated Karl-Johan Persson, the CEO of H&M. “For the convenience of our customers we are continuing to invest in our logistics infrastructure. In Q4 2018 we opened three new logistics centres with a total area of ​​around 230,000 sqm. This means that we will be able to provide our customers with faster deliveries and a wider range of goods,” he adds. In 2019 H&M plans to open 175 new stores.


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