The general appearance of H & M fashion retail stores in London, England on January 9, 2025.
John Kibul | Getty Picture News | Getty Image
H & M On Thursday, although the sales were missing in the fourth quarter, the increase in operating profit was slightly higher than expected.
The operating profit of this Swedish fashion giant was 17.3 billion Swedish ($ 1.57 billion) in 2024, while analysts were predicted by 17.2 billion Swedish Krona in LSEG polls.
In the fourth quarter, the operating profit was 4.6 billion Swedish Krona, while the Swedish Krona analyst predicted 4.2 billion Swedish Crown.
At the same time, the sales in the fourth quarter were 621.9 billion Swedish, which was lower than the 63.48 billion predictions in Reuters voting, but the local currency increased by 3 %. In 2024, the sales of local currencies increased by 1 %, accounting for 234.58 billion Swedish Crown.
“Due to the strong online sales, due to good women’s fashion collection and effective cost control, sales and operating profits increased in the fourth quarter. By focusing on our core business and realizing our plans, we are facing long -term benefits. The growth direction of the graph advances. “” CEO Danielervér said in a statement.
H & M has been working hard to compete with the competitors Zara owned by Initex, as well as lower -cost retailers, such as SHEIN, a fast fashion giant created by China.
September, the company Cancel its income margin target In 2024, due to higher costs and increased competition, business profits were in the third quarter.
The results marked the latest test of CEO Ervér, and he was appointed by the organization in January 2024.
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