Hennes & Mauritz AB, H & M ser. B · Q2 2026 earnings

Briefing

Hennes & Mauritz AB, H & M ser. B reported Q2 2026 results with net sales of SEK 54.8 billion and operating profit of SEK 5.9 billion.

H&M Group reported second quarter net sales of SEK 54,828 million, down from SEK 56,714 million a year earlier, with sales in local currencies fairly in line with last year despite fewer stores. Gross margin improved to 56.6% and operating profit excluding one-time costs rose 11% to SEK 6,592 million. The company noted tighter inventory management impacted sales but improved profitability and stock composition.

• Net sales SEK 54,828 m (56,714); local currency sales flat YoY with 3% fewer stores.
• Gross profit SEK 31,045 m, margin 56.6% (55.4%).
• Operating profit SEK 5,913 m (margin 10.8%); excl. restructuring costs SEK 6,592 m (12.0%).
• Net income SEK 3,963 m, EPS SEK 2.49 (2.48); operating cash flow up 24% to SEK 10,591 m.

Headline financials

June 2026 sales in local currencies expected to be on par with the previous year.