H&M continues retail expansion, posts 9 percent rise in Q2 profit

For the second quarter, the H&M group’s sales including VAT increased by 10 percent to 59,538 million Swedish krona (6,983 million dollars). Gross profit for the quarter increased by 9 percent to 29,345 million Swedish krona (3,442 million dollars) corresponding to a gross margin of 57.1 percent against 57.6 percent. For the first half-year from December 1, 2016 to May 31, 2017, the H&M group’s sales including VAT increased by 9 percent to 113,907 million Swedish krona (13,350 million dollars) during the first six months of the financial year.