H&M's Q2 results fell short of expectations with operating profit at 7.10 billion SEK versus an expected 7.40 billion SEK. June sales are projected to decrease by 6% due to adverse weather conditions in key markets, though sales improved towards the end of the month. The company's shares plummeted by 14% following the profit miss and sales decline, raising concerns about meeting full-year margin targets.
H&M shares tumble on sales warning https://t.co/4vOsyHVKUM
H&M plunges 13.5% on doubts over full-year margin target, June sales outlook https://t.co/ZSruLnByhl
H&M SHARES DROP 14% AFTER PROFIT MISS, JUNE SALES DECLINE
⚠️ H&M SHARES EXTEND LOSSES, NOW DOWN 13% AFTER Q2 OPERATING PROFIT MISS
⚠️ H&M SHARES FALL 11% AFTER Q2 OPERATING PROFIT MISS, WEKAER THAN EXPECTED JUNE SALES
H&M's Q2 misses forecast, June sales decline https://t.co/yT9NhpHz4O https://t.co/hS2yPTeJmx
⚠️ H&M - **SALES FOR MONTH OF JUNE 2024 ARE EXPECTED TO DECREASE BY 6 PERCENT IN LOCAL CURRENCIES COMPARED WITH SAME PERIOD LAST YEAR **UNSTABLE WEATHER IN MANY OF H&M GROUP'S LARGE MARKETS AT START OF JUNE 2024 HAD A NEGATIVE IMPACT ON SALES **WE ARE WELL ON WAY TO ACHIEVING…
$HMB.SE Reports Q2 (SEK) Op 7.10B v 7.40Be, Rev 59.6B v 59.6Be; Notes June sales expected down 6% y/y citing unstable weather in many of the H&M group's large markets in early June, but sales recovered at end-June (H&M) (More at https://t.co/TIlbXkzdzX)