The clothing giant H & amp; M parried both the warm autumn and the strong dollar – and delivered over 7 billion in operating profit, which is what analysts expected.
It was a proud Karl-Johan Persson, CEO, H & amp; M, which met the press after the report has been presented in the morning.
– We have achieved our highest profit ever – despite the strong dollar trend
The weather is different from what you can expect from the season is a nightmare for every garment sixth.
At the press conference after the report, told H & amp; M to the hot autumn in Europe had been tough. Sales were admittedly good in September and October – but in November the heat was noticeable in sales figures.
Yet, the clothing empire report operating income of 7 billion for the fourth quarter, which is what analysts expected.
READ ALSO: H & amp; M scrimp on dividends
Despite the falling price of H & amp; M’s B share by almost 4 percent after one hour of trading.
12.15 low share price down by 4.3 percent.
The reason is judged to be about concern for H & amp; M’s vulnerability to a strong dollar development, and that the dividend ended at SEK 9.75 per share, compared to just over SEK 10 as expected .
There is also disappointment about the outlook for H & amp; M’s sales – the market had expected a sales increase of 11 percent in January, but H & amp; M flag of a day for a sales increase of 7 percent.
The US dollar’s strong performance can be a challenge for H & amp; M as the company purchases in large part is traded in dollars. The strong US dollar increased costs, H & amp; M’s purchasing substantially, according to Persson’s closing comment.
– We have achieved our highest ever results. This is despite the strong dollar trend, says Karl-Johan Persson.
H & amp; M expects to continue growing in 2016 and open about 425 stores.
– We have had a strong expansion in the year. First, we have opened up many new stores, and we have moved into new countries. We have rolled out our online store to many new markets, says Karl-Johan Persson.
Also read: Market disappointed at reports
H & amp; M conducts an annual customer survey on the different markets , where the company compared its position both on previous years, and against competitors.
– It is pleasing to see that we have a very strong position and we have strengthened our position further, says Persson.
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