H&M shares jump 14% as profit smashes expectations
Publishing timestamp: 2024-03-27 09:47:51
Summary
H&M's shares jumped 14% after beating profit expectations for the first quarter, with operating profit rising and operating margin improving. The company is focusing on profitability amid competition from other fast-fashion retailers. CEO Daniel Ervr highlighted the positive direction of the company's development and plans to strengthen sales. Analysts noted mixed top-line delivery but a significant gross margin beat, lending credibility to H&M's 10% operating margin target.
Sentiment: POSITIVE
Keywords: breaking news: markets, h & m hennes & mauritz ab, retail industry, business news, breaking news: business, earnings, markets,
Source: https://www.cnbc.com/2024/03/27/hm-shares-jump-13percent-as-profit-smashes-expectations-.html