H&M abandons 2024 earnings margin target, Q3 profit lags

Reuters09-26

STOCKHOLM (Reuters) -H&M, the world's second-largest listed fashion retailer, said on Thursday it no longer expected to reach its full-year earnings margin goal, while reporting a lower-than-expected ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2470227455?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/n4SgaoU6eSFcpthg0AxUeA--~B/aD01NTU7dz04MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/reuters-finance.com/3bcb341094957a626ff74af089f3a567","is_english":true,"pubTime":"2024-09-26 14:10","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2470227455","market":"us","top_or_hot":-1,"title":"H&M abandons 2024 earnings margin target, Q3 profit lags","media":"Reuters","content":"<div>\n<p>STOCKHOLM (Reuters) -H&M, the world's second-largest listed fashion retailer, said on Thursday it no longer expected to reach its full-year earnings margin goal, while reporting a lower-than-expected ...</p>\n\n<a href=\"https://finance.yahoo.com/news/h-m-abandons-2024-earnings-061029109.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>H&M abandons 2024 earnings margin target, Q3 profit lags</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nH&M abandons 2024 earnings margin target, Q3 profit lags\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-26 14:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/h-m-abandons-2024-earnings-061029109.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>STOCKHOLM (Reuters) -H&M, the world's second-largest listed fashion retailer, said on Thursday it no longer expected to reach its full-year earnings margin goal, while reporting a lower-than-expected ...</p>\n\n<a href=\"https://finance.yahoo.com/news/h-m-abandons-2024-earnings-061029109.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HMRZF","symbol_name":"Hennes & Mauritz AB","start_time":0,"source_url":"https://finance.yahoo.com/news/h-m-abandons-2024-earnings-061029109.html","article_id":"2470227455","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/n4SgaoU6eSFcpthg0AxUeA--~B/aD01NTU7dz04MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/reuters-finance.com/3bcb341094957a626ff74af089f3a567"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2470227455","pubTimestamp":1727331029,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"STOCKHOLM  -H&M, the world's second-largest listed fashion retailer, said on Thursday it no longer expected to reach its full-year earnings margin goal, while reporting a lower-than-expected operating profit for the June-August period.H&M has struggled to boost its profitability amid high inflation and stiff competition from its bigger Spanish rival Zara, owned by Inditex, and the rapid growth of cut-price online fast-fashion retailer Shein.\"At present we estimate that this year's operating margin will be lower than 10%,\" Chief Executive Daniel Erver said in a statement.The accumulated margin stood 7.4% for the first three quarters.The full-year operating margins for 2022 and 2023 were 3.2% and 6.2% respectively, and H&M had cautioned in June that factors such as materials costs and foreign currency had made the 2024 target more difficult to reach.Thursday's earnings report was only the second under the management of Erver, a long-time company insider who took the helm at H&M in late J","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"HMRZF":"Hennes & Mauritz AB","IDEXF":"Industria de Diseno Textil Inditex SA","IDEXY":"Industria de Diseno Textil Inditex SA"},"translate_title":"H&M放弃2024年利润率目标，第三季度利润滞后","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HMRZF":1,"IDEXF":0.9,"IDEXY":0.9},"content_text":"STOCKHOLM (Reuters) -H&M, the world's second-largest listed fashion retailer, said on Thursday it no longer expected to reach its full-year earnings margin goal, while reporting a lower-than-expected operating profit for the June-August period. \n H&M has struggled to boost its profitability amid high inflation and stiff competition from its bigger Spanish rival Zara, owned by Inditex, and the rapid growth of cut-price online fast-fashion retailer Shein. \n \"At present we estimate that this year's operating margin will be lower than 10%,\" Chief Executive Daniel Erver said in a statement. \n The accumulated margin stood 7.4% for the first three quarters. \n The full-year operating margins for 2022 and 2023 were 3.2% and 6.2% respectively, and H&M had cautioned in June that factors such as materials costs and foreign currency had made the 2024 target more difficult to reach. \n Operating profit for the Swedish group's fiscal third quarter stood at 3.51 billion Swedish crowns ($346 million) against a year-earlier 4.74 billion and a mean forecast in an LSEG poll of analyst of 4.93 billion. \n H&M said its autumn collection has been very well received and that sales for the month of September were expected to rise by 11% in local currencies compared with the same period last year. \n Inditex earlier this month reported a jump in sales of its autumn and winter collection after a sluggish summer marred by poor weather while Britain's Next raised its profit forecast on the back of better than expected recent trading. \n Thursday's earnings report was only the second under the management of Erver, a long-time company insider who took the helm at H&M in late January following the sudden resignation of his predecessor. \n H&M's shares are up 2.7% year-to-date, lagging a 33% rise in Inditex. \n ($1 = 10.1443 Swedish crowns) \n (Reporting by Marie Mannes, editing by Terje Solsvik)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470227455"}