“H&M shares jump 14% as profit smashes expectations”
April 1, 2024
“Shares of H&M leapt 14% in early deals on Wednesday, after the Swedish retailer significantly beat profit expectations for its fiscal first quarter.
Operating profit rose to 2.08 billion Swedish kronor ($196 million), versus the 1.43 billion kronor forecast in a poll of analysts by LSEG, formerly known as Refinitiv. The company’s operating margin rose to 3.9% from 1.3%, as it reiterated its target of a 10% operating margin this year.
Net sales fell year on year in the first quarter, hitting 53.7 billion kronor from 54.9 billion kronor…”
https://www.cnbc.com/2024/03/27/hm-shares-jump-13percent-as-profit-smashes-expectations-.html