Swedish apparel retailer Hennes & Mauritz AB or H&M (HMRZF.PK,HNNMY.PK) posted lower second-quarter profit after tax of 4.66 billion Swedish kronor, or 2.81 kronor per share, compared with last year's 5.22 billion kronor, or 3.15 kronor per share. Quarterly profit after financial items amounted to 6.125 billion kronor, down from 7.05 billion kronor a year earlier.
During the second quarter, the Group sales, including VAT, grew by 5 percent in local currencies, but when converted into Swedish kronor, sales before VAT reached 31.635 billion kronor, with sales in comparable units decreasing by 4 percent. According to the company, continued substantial negative currency translation effects occurred as a result of the continued strengthening of the Swedish krona against most sales countries' currencies. The reported sales of 36.92 billion kronor, including VAT, would have been about 1.8 billion kronor higher using the same currency rates as in the previous year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.