News dalla rete ITA

30 Settembre 2022

Svezia

H&M STOCKS AT A HISTORIC LOW; COMPANY PRESENTS MEASURE PACKAGE OF SEK 2 BILLION

H&M’s quarterly report created shockwaves throughout the market. The company's operating profit amounted to SEK 902 million during the third quarter, severely falling short of Infront's analysis which expected an operating profit of SEK 2.5 billion, Dagens industri reports. In connection with the quarterly report, it also emerged that the company has 140 stores open in Russia. CEO Helena Helmersson cannot yet say when the liquidation may be completed.To alleviate some pressure, H&M announced a measure package of SEK 2 billion per year of savings, the market however, is not convinced, reports SvD Näringsliv. H&M shares tumbled to historic lows in Thursday's trading. The stock was traded for under SEK 100 -  a price not seen since September 2004, apart from a single day in the beginning of the pandemic. With increasing inventory jeopardising long term profitability it is a complex time for the clothing giant  (ICE STOCCOLMA)


Fonte notizia: Dagens industri & SvD Näringsliv