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FULL-YEAR
The H&M Group’s sales including VAT increased in local currencies by 8 percent during the financial year. Sales in comparable units decreased by 1 percent. Sales in SEK were strongly negatively affected by currency translation effects. Converted into SEK, sales excluding VAT amounted to SEK 109,999 m (108,483).

Gross profit amounted to SEK 66,147 m (68,269), corresponding to a gross margin of 60.1 percent (62.9).

Profit after financial items amounted to SEK 20,942 m (25,008). Of this year’s profit decrease compared to the previous year, approximately SEK 1.5 billion in total is due to negative currency translation effects and the item affecting comparability relating to the H&M Incentive Program.

Group profit after tax was SEK 15,821 m (18,681), corresponding to SEK 9.56 (11.29) per share.

Strong expansion during the year. The Group opened 266 (218) new stores net. China, the US, the UK and Germany were the largest expansion markets.


THE FOURTH QUARTER
The H&M Group’s sales including VAT increased by 6 percent in local currencies in the fourth quarter.

Sales in comparable units decreased by 3 percent. Converted into SEK, sales excluding VAT amounted to SEK 30,952 m (29,711).

Gross profit amounted to SEK 19,150 m (18,792), corresponding to a gross margin of 61.9 percent (63.2).

Profit after financial items amounted to SEK 6,802 m (7,178). Group profit after tax amounted to SEK 5,357 m (5,487), corresponding to SEK 3.24 (3.32) per share.



H& M, HENNES & MAURITZ AB reports weaker than expected results
Thursday, 26 January 2012
Clothing giant Hennes & Mauritz reported a profit before tax of Skr6.802 million for the period September-November, the fourth quarter in the company's broken financial year.

Corresponding period the year before the company made a profit of Skr7.178 million.
Analysts had expected a profit of Skr7.18 million, according to Reuters.

Turnover amounted to Skr30.952 million, compared to Skr29.711million a year earlier. See summary of the results here
Board of Directors proposes an unchanged dividend of Skr 9.50 per share.

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H & M's CEO Karl-Johan Persson writes in a commentary in the financial statement that the company gained market share "in one of the toughest years in a long time" for the garment trade.

"While the situation on the purchasing markets have been challenging. Cost inflation has been high with the increased cost of purchasing the clothing industry as a result, "wrote Persson.

During fiscal year H & M opened 266 new stores, net.
"Even in 2012 we are planning a major expansion of approximately 275 net new stores. China, U.S. and UK are the countries where we will open the most stores during the year, "writes H & M's head.

Clothes giant will this year enter the new markets of Bulgaria, Latvia, Malaysia and Thailand and also open the first store in Latin America, in Mexico.

Karl-Johan Persson believes that H & M has made a good start to the new fiscal year, with strong sales both in December and so far in January.
"The indications are that it will remain tough macro-economic in many of our markets in 2012 but we strongly believe in our offering and are confident that H & M will hold its own this year as well," he writes.
By Scancomark.se Team






































































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