Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

H&M sales miss as retailer struggles to compete with Zara By Reuters

by Reuters
September 15, 2022
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters.

By Marie Mannes and Anna Ringstrom

STOCKHOLM (Reuters) -H&M reported on Thursday lower-than-expected quarterly sales as shoppers tighten their belts with energy and food bills soaring and the world’s second-biggest fashion retailer struggles to compete with rival Zara.

Third-quarter net sales at the Swedish group were up 3% from a year earlier at 57.5 billion crowns ($5.4 billion), short of the 5% which analysts polled by Refinitiv had forecast for the June-August quarter.

“The third quarter got off to a weak start, in common with the industry in many of the group’s major markets,” H&M, which does the bulk of its business in Europe, said in a statement.

“Sales improved sequentially during the quarter, with a better start for the autumn collections than last year.”

Measured in local currencies, sales were down 4%.

“As we saw from Primark last week, we think the more value conscious end of the sector is proving very challenging in Europe ex-UK, reflecting where pressures on household cashflow are most acute,” RBC analysts said in a note, noting German industry data showing falling store sales in the period.

H&M’s performance substantially underperformed market leader Inditex (BME:), the owner of Zara, which this week posted sales growth in constant currency terms of 16% for its May-July quarter. The Spanish group’s growth pace however slowed to 11% in the Aug.1-Sept. 11 period.

Inditex on Wednesday flagged further price hikes this autumn to offset soaring costs, despite worries demand would wane due to the cost of living crisis.

Shares in H&M, which were down 36% year-to-date at Wednesday’s close, were roughly unchanged in early trade. Analysts said it was holding up due to the company’s comment that its autumn collections have been well received.

H&M is due to publish its full third-quarter earnings report on Sept. 29.

($1 = 10.7226 Swedish crowns)



Source link

Tags: CompeteretailerReuterssalesStrugglesZara
Previous Post

Royal Tungsten – Review 4.5/5

Next Post

Two of the world’s greatest economists Olivier Blanchard and Jan Hatzius disagree on whether you have to lose your job to bring inflation down

Related Posts

Nu Holdings: The Fintech Stock With Strong Long-Term Growth Potential (NYSE:NU)

Nu Holdings: The Fintech Stock With Strong Long-Term Growth Potential (NYSE:NU)

by Analysis Fundamental
July 9, 2025
0

This text was written byComply withI'm an skilled Threat Administration Enterprise Analyst at a Systemic Greek Financial institution, with a...

Antofagasta: Robust Prospects For Long-Term Dividend Investors (ANFGF)

Antofagasta: Robust Prospects For Long-Term Dividend Investors (ANFGF)

by Alberto Abaterusso
July 9, 2025
0

This text was written byObserveAlberto holds a Grasp's diploma in Enterprise Economics. Throughout his educational profession he acquired an in...

Oklo: The Most Exciting Zero-Revenue Stock (NYSE:OKLO)

Oklo: The Most Exciting Zero-Revenue Stock (NYSE:OKLO)

by Michael Wiggins De Oliveira
July 8, 2025
0

This text was written byObserveMichael Wiggins De Oliveira is an inflection investor. This implies shopping for into low cost corporations...

B-Stock’s Summer Teammate Spotlight 2025: Meet Mia Paulding

B-Stock’s Summer Teammate Spotlight 2025: Meet Mia Paulding

by Andrea Vargas
July 8, 2025
0

B-Inventory is so excited to welcome Mia Paulding to the Purchaser Account Administration staff this summer time! As a summer...

B-Stock’s Summer Teammate Spotlight 2025: Meet Alyssa Shum

B-Stock’s Summer Teammate Spotlight 2025: Meet Alyssa Shum

by Andrea Vargas
July 8, 2025
0

B-Inventory is so excited to welcome Alyssa Shum to the Product Design group this summer time! As a summer time...

Dell Stock Is Fairly Valued With CSG Struggles (NYSE:DELL)

Dell Stock Is Fairly Valued With CSG Struggles (NYSE:DELL)

by Jia Ming Eow
July 7, 2025
0

This text was written byObserve19 12 months previous passionate dealer managing a 6 determine portfolio attempting to and beating the...

Next Post
Two of the world’s greatest economists Olivier Blanchard and Jan Hatzius disagree on whether you have to lose your job to bring inflation down

Two of the world's greatest economists Olivier Blanchard and Jan Hatzius disagree on whether you have to lose your job to bring inflation down

Fitch slashes India’s FY23 GDP growth forecast to 7% on slowing global economy, rising interest cost

Fitch slashes India's FY23 GDP growth forecast to 7% on slowing global economy, rising interest cost

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Dividend Kings In Focus: ABM Industries

Dividend Kings In Focus: ABM Industries

July 11, 2025
8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

July 11, 2025
Russian basketball player arrested on suspicion of carrying out ransomware attacks

Russian basketball player arrested on suspicion of carrying out ransomware attacks

July 11, 2025
Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies

Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies

July 11, 2025
Why ACA health insurance premiums may see ‘sharp’ increase in 2026

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

July 11, 2025
Robinhood Offers Crypto Trading “at the Lowest Cost,” but Is It False Advertising?

Robinhood Offers Crypto Trading “at the Lowest Cost,” but Is It False Advertising?

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Dividend Kings In Focus: ABM Industries

8th CPC Revised Pension Estimates: Are you Level 2, 4, 6, 8 and 10 employee? Know your projected revised pension at 2.08 and 2.57 fitment factors

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In