On Thursday morning, the H&M Group presented its six-month report for 2026. Net sales amounted to SEK 54.8 billion in the second quarter. At the same time, operating profit, excluding one-time restructuring costs, increased by 11 percent to SEK 6.59 billion. Sales in local currencies were at the same level as the previous year. When it comes to the company's digital business, the report shows steady growth.
The company notes that e-commerce continues to grow and that just over 30 percent of sales take place online. However, this figure is in line with previous reports.
Focus on Integrated Channels and Digital Expansion
The company states that expansion going forward is taking place with a strong focus on increased omnichannel sales. In 2026, digital and physical stores continue to be the largest area for investment in the business.
The goal is to be where the customer wants to shop, regardless of platform. This means product availability in stores, on the brands' own online sites, on digital marketplaces and in social media. In addition, digital expansion to new markets and channels continues. Brands such as COS, Monki, Weekday, & Other Stories and ARKET offer the service "Global selling", which enables customers in an additional 70 markets to shop online.
Sales for these "Portfolio brands" did decrease in the second quarter by 7 percent in local currencies compared to the same period last year. However, this is explained, among other things, by an increased focus on full-price sales during the quarter, as well as the closure of physical Monki stores last year.
New Digital Infrastructure to Strengthen Profitability
To optimize e-commerce and overall operations, the company's CEO, Daniel Ervér, announces that major technical updates are to be expected.
During the second half of the year, we are starting the upgrade of the digital infrastructure that will support our development, comments Daniel Ervér.
The new infrastructure provides better decision support, faster processes and increased precision in how we plan assortment and inventory, he adds.
The tighter inventory management has, in some cases, affected H&M's ability to fully meet customer demand during the period, but the assessment is that there is good potential to increase precision to create a better balance.