H&M shares fell over 5% on Thursday after the retailer missed fourth-quarter sales forecasts. The company attributed the shortfall partly to Black Friday’s later timing but noted a sales uptick in December and January. Full-year sales rose 1% in local currencies, with growth in womenswear, sportswear, and online segments. CEO Daniel Ervér remains optimistic about long-term growth despite macroeconomic and geopolitical challenges. H&M CEO Daniel Ervér outlined goals for at least 10% annual sales growth, an operating margin above 10%, and a reduction in greenhouse gas emissions by 2030.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02ATM shares fell over 5% on Thursday after the retailer missed fourth quarter sales
00:06forecast. The company attributed the shortfall partly to Black Friday's later timing, but noted
00:12a sales uptick in December and January. Full-year sales rose 1% in local currencies,
00:16with growth in womenswear, sportswear, and online segments. CEO Daniel Erver remains
00:22optimistic about long-term growth despite macroeconomics and geopolitical challenges.
00:27The outlying goal is for at least 10% annual sales growth, with an operating margin above
00:3110%, and a reduction in greenhouse gas emissions by 2030.
00:36For all things money, visit Benzinga.com slash GSTV.