Retailer Aims to Double Sales and Halve Carbon Footprint by 2030
- H&M Group’s profit after financial items increased sevenfold in its latest full-year results to SEK14.3bn (£1.13bn)
- The company aims to double sales and halve its carbon footprint by 2030
- Investments will increase, including around SEK10bn (£791m) in 2022
- Group net sales rose by 6% to SEK199bn (£15.8bn and 12% in local currencies in the 2021 financial year
- H&M performed well in its latest quarter with profit after financial items rising 64% to SEK6bn (£475m)
- Plans to launch in six new markets and roll out online business in several countries
- CEO Helena Helmersson highlights customer focus, quick action, and flexibility as key factors for success
H&M Group has reported a significant increase in profit after financial items, rising to SEK14.3bn (£1.13bn) for the latest full-year results. The company plans to double its sales and halve its carbon footprint by 2030 while increasing investments, including around SEK10bn (£791m) in 2022. Group net sales rose by 6% to SEK199bn (£15.8bn), with a 12% increase in local currencies during the 2021 financial year. The fashion retailer attributes its success to well-received collections, full-price sales, and lower markdowns. H&M plans to launch in six new markets and expand online business in several countries. CEO Helena Helmersson emphasizes customer focus, quick action, and flexibility as key factors for managing the pandemic and future growth opportunities.
Factuality Level: 10
Factuality Justification: The article provides accurate information about H&M Group’s financial results, growth plans, and CEO’s statements without any irrelevant or misleading details, sensationalism, redundancy, or personal opinions presented as facts. It also includes consistent reasoning and logical arguments.
Noise Level: 3
Noise Justification: The article provides relevant information on H&M Group’s financial performance and its plans for future growth and sustainability efforts. It also includes quotes from the CEO that offer insights into the company’s strategy and outlook. However, it could benefit from more in-depth analysis of the factors contributing to the profit increase and a broader discussion of the fashion industry’s challenges and opportunities.
Financial Relevance: Yes
Financial Markets Impacted: H&M Group’s stock price and fashion retail industry
Financial Rating Justification: The article discusses H&M Group’s financial performance, growth plans, and impact on the fashion retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
www.retailsector.co.uk