{"id":6262,"date":"2024-03-31T10:01:00","date_gmt":"2024-03-31T07:01:00","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=6262"},"modified":"2024-03-31T10:01:00","modified_gmt":"2024-03-31T07:01:00","slug":"fashion-retailer-hm-beats-expectations-in-spring-recovery","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=6262","title":{"rendered":"Fashion retailer H&M beats expectations in spring recovery"},"content":{"rendered":"
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H&M (HMb.ST), the world\u2019s second-largest listed fashion retailer, beat first-quarter operating profit expectations on Wednesday, as new CEO Daniel Erver said spring collections were well received and sales showed signs of recovery.<\/p>\n

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The Swedish group\u2019s shares rose 12 per cent in early trade after it posted an operating profit of 2.08 billion crowns ($196 million), up from 725 million and above the 1.43 billion expected by analysts in an LSEG poll.
\nThe 2 per cent first-quarter fall in sales was less than analysts expected, and sales at the start of its second quarter rose by 2 per cent, reflecting stronger demand for its clothing and accessories.
\n\u201cThe quarter\u2019s sales gradually improved during February with well-received spring collections, which is a positive sign that we are on the right track,\u201d said CEO Daniel Erver, who has been in the role for two months.
\n\u201cOur top priority is to strengthen sales,\u201d he added, also reiterating H&M\u2019s goal of reaching a 10 per cent operating profit margin this year.
\nThe retailer, known for $19.99 jeans and dresses under $15, has been stretching into more expensive clothing, selling leather trousers for more than $300 and, under its Cos brand, coats for as much as $1,190.
\nOnline fast-fashion retailer Shein, which sells $8 dresses, $5 t-shirts and $2 jewellery pieces, has eaten into H&M\u2019s share of the lower end of the market, while bigger rival Zara (ITX.MC) has extended its dominance in the sector.
\nIn an effort to improve the in-store experience, H&M said it is refurbishing around 250 stores this year, a \u201csignificant increase\u201d compared to last year. It plans to open around 100 stores, mainly in growth markets, and close 160 stores in more established markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

H&M beat first-quarter operating profit expectations with an operating profit of 2.08 billion crowns, up from 725 million. Sales at the start of its second quarter rose by 2 per cent. CEO Daniel Erver stated that the quarter’s sales improved with well-received spring collections, and their top priority is to strengthen sales. H&M plans to refurbish around 250 stores this year, open around 100 new stores, and close 160 stores.<\/p>\n","protected":false},"author":3,"featured_media":6263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3,763,4355,2515,250,3330,3767,1823,34,3331,4356,1215,2247,4357,3798,1535,618,1006,18],"class_list":["post-6262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-cyprus","tag-fashion","tag-fashion-retailer","tag-february","tag-google","tag-google-news","tag-growth","tag-increase","tag-markets","tag-news","tag-operating-profit","tag-poll","tag-profit","tag-sales-recovery","tag-shares","tag-spring","tag-top","tag-trade","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nFashion retailer H&M beats expectations in spring recovery<\/title>\n<meta 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