Trending: H&M Shares Leap After It Reports Market-Beating Earnings, Backs Guidance
1416 GMT - H&M Hennes & Mauritz is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the company reported market-beating earnings, sending its shares higher. The Swedish fashion retailer said that sales in February have been boosted by well-received spring collections and that sales this month up to March 25 are 2% higher in local currency. Shares are up around 14% at SEK175.86, marking their best one-day percentage performance since last June. They are 44% higher over the past 12 months. Despite the company's performance, and backing its target of a 10% EBIT margin for 2024, Bernstein analysts believe the company's guidance for the year is challenging. "We remain unconvinced unless they bring up price materially and take a significant hit on volume, which we don't think is sustainable," Bernstein says. Dow Jones & Co. owns Factiva. (ian.walker@wsj.com.)
(END) Dow Jones Newswires
March 27, 2024 10:31 ET (14:31 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings and a 56% Rally In 2024, Is Arm Stock a Buy, a Sell, or Fairly Valued?
-
How Morningstar Rates Stocks
-
After Earnings, Is Disney Stock a Buy, a Sell, or Fairly Valued?
-
Home Depot Earnings: Macro Factors Pinch Demand, but Long-Term Outlook Intact
-
Tariffs On Chinese EVs Offer US Automakers a Chance to Capture Demand
-
The Best REITs to Buy
-
3 Hot Stocks to Buy That Still Look Undervalued
-
After Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?