0 3分钟 2月

3SSR 股市 广州股票配资信誉|十大配资极速股票- 广州股票配资近期行情官方网址

A passer-by walks past the signboard outside the H&M store at Avenue K in Kuala Lumpur, November 4, 2015. — Picture by Yusof Mat Isa
A passer-by walks past the signboard outside the H&M store at Avenue K in Kuala Lumpur, November 4, 2015. — Picture by Yusof Mat Isa

STOCKHOLM, March 31 — Swedish clothing giant H&M said today its revenue increased in the first quarter but its closure of Russian stores has started to impact growth.

Hundreds of Western companies have halted their operations in Russia following Moscow’s invasion of Ukraine, with a slew of retailers, including H&M rival Zara, shutting down stores.

H&M has closed 185 stores and stopped online sales in Russia.

H&M said its global sales between March 1 and 28 rose by six per cent in local currencies compared to the same period last year.

But excluding Russia, Belarus and Ukraine, sales increased by 11 per cent, the company added.

In the first quarter, which preceded the closures, H&M said sales rose 23 per cent to 49.2 billion Swedish kronor (RM22 billion). In local currencies the increase was 18 per cent.

Its net profit bounced back into the black in the December-to-February period at 217 million kronor, following a net loss of 1.1 billion for the same quarter a year earlier.

However, the company’s profits still missed estimates by analysts, who were expecting a pre-tax profit of about one billion, compared to the 282 million reported.

Shares in H&M were down over nine per cent in the early hours of trading on the Stockholm stock exchange.

Prior to the war in Ukraine, the Covid-19 pandemic had weighed on the company’s performance.

“In addition to the general consequences of the pandemic, such as disruptions and delays in the supply chain, some of our major markets were impacted by a new wave of the pandemic in the first quarter,” CEO Helena Helmersson said.

“Despite this, we saw a recovery of sales in physical stores compared with last year, while online sales continued to perform well,” she added. — AFP

发表评论