Hennes & Mauritz Net Profit Beats Forecasts as Sales Pick Up
Provided by
Dow Jones
By Dominic Chopping
STOCKHOLM--STOCKHOLM--Swedish fashion retailer Hennes & Mauritz posted a forecast-beating net profit for the fiscal first quarter as sales gradually improved during February with well-received spring collections.
"Our top priority is to strengthen sales, and our target of a 10% operating margin for full-year 2024 thus remains in place," said Chief Executive Daniel Erver.
The company said sales in the period between March 1 and March 25 increased by 2% in local currencies compared with the same period the previous year.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
March 27, 2024 03:34 ET (07:34 GMT)
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