Stockholm (Reuters) – H&M reported lower than expected in the fourth quarter of 2024, partly due to a late “Black Friday” this year, but recorded sales up 4% in December and January , sign of a favorable fiscal year.
Sales in the fourth quarter of the second largest fashion distributor listed in the world amounted to 62.19 billion Swedish crowns (5.43 billion euros), up 3% in local currency, while analysts were On average on 63.48 billion Swedish crowns.
H&M usually makes a large part of the quarterly sales around the “Black Friday” period, which took place on November 29 last year, resulting in a drop of just under 1% of quarterly sales.
The profit margin for the quarter was 7.4%, up compared to the 6.9% of the previous year, the director general, Daniel Erver, who took office a year ago, having Declared that investments in marketing were starting to bear fruit.
(Written by Helen Reid in Stockholm and Agata Rybska in Gdansk, Etienne Breban, edited by Augustin Turpin)
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