Arab Today, arab today hm profits rise on brisk sales warns about strong dollar
Last Updated : GMT 19:18:52
Arab Today, arab today
Arab Today, arab today

H&M profits rise on brisk sales, warns about strong dollar

Arab Today, arab today

Arab Today, arab today H&M profits rise on brisk sales, warns about strong dollar

Hennes & Mauritz CEO Karl-Johan Persson (R)
Stockholm - AFP

Swedish fashion giant Hennes and Mauritz (H&M) on Thursday reported an 11-percent rise in its second quarter net profit on the back of a 20-percent jump in sales, but warned of the impact of a strengthening dollar.

The company, whose fiscal quarter runs from March to May, posted a net profit of 6.45 billion kronor (700 million euros, $780 million).

However it said the stronger dollar had increased the company's costs during the period, and it would have an even greater impact on earnings in the second half of the year.

"The market situation as regards external factors for the purchasing period for the third and fourth quarters of 2015 is considered to be very negative because the US dollar has strengthened substantially against most currencies," H&M wrote in its report.

In the second quarter, the stronger dollar pushed gross margins down to 59.4 percent, from 60.8 percent a year earlier.

H&M said "cost control in the group remains good", and attributed the higher costs to "the expansion and the long-term investments within IT and online, and to the broadening of the product range."

Sales, which ticked in at 45.87 billion kronor, were boosted by new store openings, including Peru's first store in the capital Lima, as well as online shops in eastern Europe among others.

In local currencies, sales rose by 12 percent.

"Sales development was again strong -- particularly if we consider the more challenging conditions we faced such as strong comparables from last year, unusually cold spring weather in many of our important European markets and negative calendar effects," chief executive Karl-Johan Persson said.

As of May 31, the company had 3,639 stores, including its other brands COS, & Other Stories, Weekday, Monki and Cheap Monday.

It said it expects to open in India and South Africa by the end of the year.

The group also announced plans to open 900 cosmetic stores, H&M Beauty, starting in July.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hm profits rise on brisk sales warns about strong dollar Arab Today, arab today hm profits rise on brisk sales warns about strong dollar

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hm profits rise on brisk sales warns about strong dollar Arab Today, arab today hm profits rise on brisk sales warns about strong dollar

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday