Profits up at more efficient H&M
Clothing group H&M has reported full-year revenues for 2024 equivalent to just under €20.5 billion. The group’s most recent business year ended on November 30, 2024.
This figure represents a fall of 1% year on year, but H&M pointed to an increase in its operating profit, which increased by 19% to reach the equivalent of €1.5 billion.
At the end of the business year, the group had 4,253 stores worldwide, across all of its brands. This was 116 fewer than at the end of November 2023.
Chief executive, Daniel Ervér, said the group would aim to continue strengthening its core business in 2025 and elevate its customer offering, while continuing to work on cost efficiency.
He added: “We have a clear plan for the years ahead, driving profitable and long-term growth while supporting our purpose of liberating fashion for the many.”
