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H&M Profit Surges Past Expectations
24 Sep
Summary
- H&M's profit increased significantly in the third quarter.
- Operating profit exceeded analyst expectations.
- September sales are projected to grow by 1%.
Swedish fashion retailer H&M announced a robust increase in its operating profit for the fiscal third quarter, which concluded on August 31. The company's operating profit climbed to 6.04 billion Swedish crowns, exceeding the 5.14 billion crowns that analysts had predicted.
During the same three-month period, H&M experienced a 1% rise in sales when measured in local currencies. Looking ahead, the company anticipates continued sales momentum, projecting a 1% increase in September sales in local currencies.
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