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)
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