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Gloucestershire Business News

Profits up for fashion retailer

Full-year profits soared for global fashion giant, H&M.

The retailer, which has stores in Gloucester and Cheltenham, saw a 28% rise in operating profit to £1.2bn for the year to November 30.

Net sales were up 1% to £17.1bn, boosted by a 3% rise in fourth quarter revenue to £4.5bn, as reported by Retail Gazette.

But H&M said end of quarter sales were affected by a later Black Friday, meaning a large value of orders were reported as December sales.

The retailer made a good start to the new financial year, with a 4% increase in sales for the period December 1 to January 28.

H&M's CEO, Daniel Ervér, who has been in post for a year, said the retailer has a clear direction - focusing on the core business and improving what matters most to customers.

For 2025, H&M intends to improve the precision of aligning supply and demand, improving product availability both in stores and online.

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