H&M's surprising results boost the company's sharesđź‘—

9:31 AM 30 March 2023

Thursday's session on European markets brings dynamic rallies for the shares of global company H&M (HMB.SE), which published surprising financial results for the first quarter of 2023 (December 2022-February 2023). The company's first attempts to reduce operating costs have started to have the desired effect, even in a situation of reduced consumer activity. 

H&M's results for Q1 2023 

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

- Net profit 540 million kroner (estimated loss 1.12 billion kroner)

- Operating profit of 725 million kroner (estimated loss of 1.03 billion kroner). A year earlier it was a profit of 458 million kroner.

- Gross profit 25.89 billion kroner (expected 24.79 billion kroner)

- Sales increased by 12% year-on-year.

- Operating margin 1.3% against last year's reading of 0.9%.

- Despite the expense reduction programme being implemented, core costs increased by 10%. However, the company expects to save close to SEK 2 billion this year as a result of the implemented programme.

 

Details of the company's report and other important announcements. H&M's board of directors is seeking shareholder approval for a share buyback of up to SEK 3 billion, but said that a final decision is still to be awaited to see how the company develops further. Source: H&M

H&M (HMB.SE) shares are gaining dynamically and are breaking out near the June 2022 highs. At this point, the stock is up more than 14% on a daily basis. Source: xStation 5 

Share:
Back

Join over 1 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits