second quarter (1 march 2024 – 31 may 2024)
· The H&M group’s net sales increased by 3 percent in the second quarter to SEK 59,605 m (57,616). In local currencies net sales increased by 3 percent.
· Gross profit increased by 11 percent to SEK 33,569 m (30,338). This corresponds to a gross margin of 56.3 percent (52.7).
· Selling and administrative expenses increased by 3 percent to SEK 26,446 m (25,585). In local currencies the increase was 2 percent.
· Operating profit increased to SEK 7,098 m (4,741), corresponding to an operating margin of 11.9 percent (8.2).
· Adjusted
UBS Global Wealth Management bolsters Middle East team with organizational updates and team enhancements.
