A H&M (Hennes & Mauritz) released quarterly profit above expected as it goes on with its recovery plan.
The company reported that sales in its third fiscal quarter (ended in August) had an annual expansion of 2%, considering local currencies, despite
September is the first month of the company’s fourth quarter, and H&M predicts that this month’s sales should be at the same level last year.
H&M registered operating profit of 4.91 billion Swedish crowns (about US $ 522 million) In the third fiscal quarter, compared to 3.51 billion crowns a year earlier, while sales fell 3,4%to 57.02 billion crowns.
Analysts consulted by FACTSET predicted operating profit of 3.7 billion crowns on sales of 57.03 billion crowns. Source: Dow Jones Newswires.
*Content translated with the aid of artificial intelligence, revised and edited by the Broadcast writing, Real Time News System of the State Group
