General external view of the H&M retail trade in Oxford Circus 09 January 2025 in London, England.
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H&M On Thursday, he reported about slightly better than the expected rise in operational profits, although sales predicted forecasts in the fourth quarter.
The Swedish fashion giant has released an operational profit of 17.3 billion Swedish Cron ($ 1.57 billion) for 2024, opposite 17.2 billion Swedish forecasts of Crones by analysts in the survey of LSEG.
Operational profit in the fourth quarter reached 4.6 billion of Sweden Cron compared to 4.2 billion Swedish chronic analysts.
The sale, meanwhile, was 62.19 billion of Swedish Cron in the fourth quarter, below 63.48 billion forecasts in the Reuters survey, but more than 3% in local currencies. In 2024, the sale increased 1% in local currencies that arrived at 234.58 billion of Sweden Krone.
“Sales and Operational Profit increased in the fourth quarterly by strong online sales, well -accepted women’s fashion collections and effective cost control. Focusing on our fundamental business and delivery on our plan, we head towards long -term, profitable growth.” Daniel Ervér said said is in a statement.
H&M struggles to compete against the Zara rivals owned by Inditex, as the IS lower traders’ costs, such as Chinese giant Fast Fashion Shein.
In September is a company Abolished the goal of the margin of earnings for 2024. As a higher cost and increased competition, operating profits have reached the third quarter.
The results indicate the latest test for executive director Ervéra, who was appointed in January 2024 to accelerate the group’s turn.
This is the story of the news and will be updated soon.
