Loading...
H&M shares have experienced a significant decline, dropping nearly 14% on Thursday morning after the company missed its quarterly earnings forecasts and predicted a 6% fall in June sales in local currencies. The Swedish fashion retailer, which is the world's No.2 listed fashion retailer, reported a 52% jump in net profit to $472 million for the second quarter. However, the company flagged challenges to its full-year profit margin target and attributed the sales decline partly to poor weather in many markets. The disappointing sales forecast and profitability concerns have weighed heavily on H&M's stock performance.
πΈπͺ H&M shares plunge after wet weather sparks a sales slump 'catastrophe' https://t.co/xC7hgNlDxW
H&M shares drop 13% after CEO casts doubt on June sales, margin target https://t.co/awufeav9D9 https://t.co/y5wRh7e8Lf
Shares in H&M tumbled after the fast-fashion retailer made a slow start to its third quarter and warned it would be harder to hit a key profit target this year https://t.co/Icj2Mnqnuy
WATCH: H&M cast doubt over its full-year profit margin target after missing quarterly earnings forecasts and predicting a fall in June sales, sending shares in the world's No.2 listed fashion retailer down as much as 15% https://t.co/u5VYPvg25T https://t.co/3rT0rTFYTc
H&M shares plummeted almost 14% on Thursday morning after the fashion giant missed earnings forecasts. Sales this month are likely to fall 6% in local currencies versus a year earlier, partly due to poor weather in many markets, the Swedish company said https://t.co/G8puLS5G2B https://t.co/Pscs2M5Q9g
H&M blaming "the weather" for a 6% drop in sales. The weather: https://t.co/GzasHgqYQp
H&M reports a 6% decline in June sales...
H&M shares tumble over profitability concerns https://t.co/U7fOgYChA9
Swedish fashion retailer H&M has posted a 52% jump in its net profit to $472 million in the second quarter, but its shares plunged by over 13% due to a sluggish sales forecast for this month. https://t.co/LEyOizTQlK
H&M sinks on doubts about margin target and June sale drop - Reuters https://t.co/Y8LYcqlTiB
H&M cast doubt over its full-year profit margin target after missing quarterly earnings forecasts and predicting a fall in June sales, sending shares in the world's No.2 listed fashion retailer down almost 14% https://t.co/G8puLS5G2B https://t.co/Tuh58KHLx9
H&M shares tumble as bad weather hits June sales
H&M flags June sales decline and challenges to margin target, weighing on shares https://t.co/HW7P88NKUG https://t.co/LcSu6ZM1ds