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A general exterior view of the H&M fashion retail store in Oxford Circus on January 9, 2025 in London, England.
John Keeble | Getty Images News | Getty images
H&M On Thursday, he reported a slightly better increase than expected in operational profits, although sales lost forecasts in the fourth quarter.
The Swedish fashion giant registered an operational gain of 17.3 billion Swedish Krona ($ 1.57 billion) by 2024, in front of the prognosis of Swedish Krona of 17.2 billion analysts in an LSE survey.
The operational profits of the quarter quarter reached 4.6 billion Krona Swedish compared to the 4.2 billion Swedish analysts in Krona had predicted.
Meanwhile, sales were 62.19 billion Krona Swedish in the fourth quarter, below the 63.48 billion prognosis in a Reuters survey, but 3% more in local currencies. In 2024, sales increased 1% in local currencies to reach 234.58 billion Krona Swedish.
“Sales and operational gains increased in the fourth quarter driven by strong online sales, fashion charges of well -received women and effective cost control. By focusing on our main business and delivering our plan, we are on the way to profitable growth In the long term “CEO Daniel Ervér said in a statement.
H&M has been struggling to compete against Inditex’s opponent, Zara, as well as lower -cost retailers, such as the rapid fashion giant China Shein.
In September, the company I discarded your profit margin target By 2024, as the highest costs and the increase in competition reached the operational gain of the third quarter.
The results mark the last test for CEO Ervér, who was designated for paper in January 2024 to accelerate the change of the group.
This is a last minute news and will be updated shortly.
