Loading...
Loading...
Sweden's Hennes & Mauritz AB
HNNMY reported a rise in its second-quarter profit.
H&M's quarterly net profit surged 25% to 5.81 billion Swedish kronor ($875.5 million), versus a year-ago profit of 4.66 billion kronor. However, analysts were expecting a profit of 5.36 billion kronor.
Its sales including VAT came in at 44.18 billion kronor, while sales excluding VAT rose to 37.83 billion kronor versus 31.64 billion kronor.
H&M announced its plans to open 375 new stores this year.
H&M's gross margin narrowed to 60.8% from 61.1%.
The company's press release offered the following comment from Chief Executive Karl-Johan Persson:
"We have had a good second quarter with a strong increase in both sales and profits and increased market share."
H&M shares gained 0.81% to close at $8.74 yesterday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in