The H&M Fashion Store in Oxford Cerex on January 09, 2025 in London, England.
John Kibel Getty Images News | Gety pictures
H & M On Thursday, I reported on Thursday a better rise than expected in operational profits, although sales were lost in the fourth quarter.
The Swedish fashion giant recorded a operational profit of 17.3 billion Swedish kruna ($ 1.57 billion) for 2024, compared to the Swedish Croos' expectations of 17.2 billion by analysts in the LSEG survey.
The operating profit in the fourth quarter was 4.6 billion Swedish chips, compared to 4.2 billion Swedish analysts Kruna.
Meanwhile, sales amounted to 62.19 billion Swedish chips in the fourth quarter, less than 63.48 billion expectations in a Reuters poll, but by 3 % in local currencies. In 2024, sales increased by 1 % in local currencies at 234.58 billion Swedish crowns.
“Sales and operational profit increased in the fourth quarter, driven by strong sales over the Internet, well -received women's fashion groups and effective control control. By focusing on our basic work and providing our plan,” said CEO Daniel Air in a statement.
H & M is struggling to compete against her opposition, as well as low -cost retailers such as Shein Shein Fast Fast Mashing.
In September, the company She canceled the goal of her profit margin For 2024, with high costs and increased competition, operating profits were achieved in the third quarter.
The results determine the latest test of the CEO Everér, who was appointed in this role in January 2024 to accelerate the group's transformation.
This is an urgent news story and will be updated soon.
