H&M Q4 sales disappoint due to late Black Friday
- H&M reported a slight increase in operating profit of 17.3 billion Swedish Krona for 2024, exceeding analyst forecasts of 17.2 billion Swedish Krona.
- Fourth-Quarter sales reached 62.19 billion Swedish Krona, falling short of the 63.48 billion Swedish Krona forecast in a Reuters poll.
- The company faces challenges from competitors like Inditex-owned Zara and fast fashion giant Shein, prompting H&M to scrap its earnings margin target for 2024.
- CEO Daniel Ervär stated that the company is on track for long-term growth, attributing increases in sales and profit to strong online sales and effective cost control.
Insights by Ground AI
Does this summary seem wrong?
Coverage Details
Total News Sources0
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
42% Center
L 29%
C 42%
R 29%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage