Business Headlines

H&M shares fly off the rack on quarterly results

Shares in Hennes and Mauritz surged on Thursday, boosted by quarterly results pointing to a budding recovery in the Swedish fashion retailer’s earnings.

By Agence France-Presse

Shares in Hennes and Mauritz surged on Thursday, boosted by quarterly results pointing to a budding recovery in the Swedish fashion retailer’s earnings.

H&M shares soar on better-than-expected results

When trading closed on the Stockholm stock exchange shares in the firm stood 13.7 percent higher at 165 kronor.

H&M, which has been lagging in a relentless competition with Spanish rival Zara, earlier reported a net profit of 4.5 billion kronor (427 million euros, $485 million) between March and May, the second quarter of its financial year.

H&M profit down sharply, online sales up

The net result was little changed from year-earlier levels, and slightly short of analysts’ forecasts, but a brighter outlook still had investors rushing to buy into the stock.

H&M’s online sales up by 32% as profits plunge

“The H&M group continues to increase full-price sales, reduce markdowns and increase market share, showing that customers appreciate our collections and the improvements we are making to the product assortment and the customer experience,” said CEO Karl-Johan Persson in a statement.

H&M profits pulled down by stock mishaps, declining prices

Sales meanwhile rose by 11 percent with analysts welcoming the Swedish group’s apparent success in accelerating its digital performance, especially in online sales which rose 20 percent in local currencies in the quarter, and 27 percent once converted back into kronor.

H&M share falls as owners deny buy-out rumours

“H&M is continuing to execute better this year and is gaining share in major markets, albeit against easy comparisons,” analysts at the Royal Bank of Canada said in a note to investors.

No spring in H&M’s profits after cold snap

H&M’s net margin rose to 7.8 percent from 1.6 percent in the previous quarter, a signficant recovery but still far behind Zara, whose margin came in at 12.4 percent for its latest quarter.

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