H&M's Q1 profit grows more than expected, sees March sales up 1% [Yahoo! Finance Canada]
INDUSTRIA DSNO UNSP/ADR (IDEXY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
"Towards the end of the quarter our well-received spring collections contributed to ?a positive sales trend, which also continued into March," CEO Daniel Erver said in a statement. Operating profit in H&M's fiscal first quarter, which includes the key Christmas shopping period, rose for a third consecutive ?quarter to 1.51 billion ?crowns ($162 million) from a year-earlier 1.20 billion and a mean forecast in an LSEG poll of analysts of ?1.39 billion, on an organic sales decrease of 1%. The rival to Inditex in January flagged that local-currency sales in the first two months ?of the ?quarter were down 2%. H&M said it ?is closely monitoring developments in ?the Middle East and the implications for global trade. "With good flexibility in the supply chain and a low proportion of air freight, there are opportunities to adapt the flow of goods to changed conditions," it said. "Middle Eastern markets account for a small portion of ?the company's total sales and the markets ?are oper
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