H&M reports $229 million in quarterly profits — 10 times higher than analysts forecast - Business Insider

The world's second-biggest fashion retailer made around 2 billion Swedish krona in profit before tax for the June to August quarter. Its shares were up 11% in early trading.

Analysts had on average forecast a profit of just 191 million krona , according to Refinitiv's SmartEstimate model, which is weighted towards more recent estimates and higher-ranked analysts. But H&M's profit is less than half of the 5 billion crowns it achieved in the same period a year earlier. Sales from the group's eight brands, which include H&M, Monki, and H&M Home, fell 19% to 50.9 billion crowns , against expectations of an 18% drop. This is a significant improvement on the previous quarter, where H&M's sales halved in the three months to May.

"H&M group's recovery is better than expected," the company, which has more than 5,000 stores globally, said in a statement. "More full-price sales combined with strong cost control enabled the company to already turn to profit in the third quarter.", opening fewer new stores than planned, and permanently closing others to cut costs.A weekly serving of the biggest stories in fast food, shopping, and more. Sign up for our newsletter now.

Pinter dagang, online sprtinya & harga bagus

CEO Adam Brimo talks at ASX conference, all about OpenLearning=ASX$OLL OpenLearning Ltd ASX:OLL Has partnered with some of the major universities. Partnerships that could become the cornerstone of a much bigger arrangement.

Motley fool article on OpenLearning=ASX$OLL🚀

OpenLearning=ASX$OLL Half year results🚀🚀🚀

Look at the current chart's for OpenLearning=ASX$OLL My opinion is🤔OpenLearning is in the very bullish region now and has broken out into a new higher trend and looks to be going 🚀🚀🚀🚀🚀

Small Business Boutique Force to closed by Government !!

EFF made a huge dent in their profits 😂😂😂😂

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside the life of an Uber driver in NYC during COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside the real reasons behind Mike Corbat's early retirement - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. They said the same about MLK,slavery,segregation,share cropping ,under paid blacks ,systemic racism but praise white nationalists terrorists who walks the streets with guns.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside Citi's exec shakeup — Chime's latest round — Buy now, pay later's future - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »