HNNMY
📉 H&M reported significantly lower-than-expected operating profit for its first quarter, primarily due to the strengthening Swedish krona and increased discounting.
📦 The fast-fashion retailer continues to struggle with excess inventory and higher purchasing costs, impacting profitability into the current quarter.
📊 Net sales also fell short of analyst expectations, indicating ongoing challenges despite the company’s efforts towards recovery.
@bernardodegarcia:
“Let’s go to H&M. Let’s see if we can find it quickly, but if not, well, let’s continue for the bingo. Whenever I search like this, it ends up appearing in Germany. Look, I don’t care. Well, I won’t go into Germany. It’s not a German company, but here we are anyway, right? Well, there we are. What a beautiful chart. H&M, the retail company, recorded lower-than-estimated earnings in its first quarter, affected by the strengthening of the Swedish krona and greater discounting on its garments. The shares plummeted. The operating profit of the fast-fashion chain store was 1.1 billion Swedish kronor, which is what it reported for the quarter ended February 28th. It was much lower than the 1.9 billion expected. This trend continues into the current quarter, with the company burdened by excess stock and inventories and higher purchasing costs. Net sales reached… net profits reached 55.3 billion, below the 55.8 billion kronor expected by analysts. Although H&M… it annoys me to put it like this because it’s HM… if I put HM HM exploration… H&M no, but it doesn’t come up… if only the companies… Hennes & Mauritz perhaps? If I search for Hennes, Mauritz should appear. Hennes & Mauritz. There you are. Better late than never, right? While H&M is making significant progress in its recovery, sales and profits for the quarter were somewhat lower than expected, according to the company yesterday.”
Watch the exact part of the video where @bernardodegarcia talks about H&M here:
Watch the video on YouTube
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