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Fashion Retailer H&M Proposes Cost Cut To Tide Over Economic Pressure

Fashion Retailer H&M Proposes Cost Cut To Tide Over Economic Pressure

时装零售商H&M建议削减成本以应对经济压力
Benzinga Real-time News ·  2022/09/29 08:07
  • Fashion retailer Hennes & Mauritz AB (OTC:HNNMY) has unveiled a SEK2 billion (~$178 million) cost savings plan to further streamline the business.
  • The company expects the savings from the program to become visible in the second half of 2023.
  • H&M's Q3 net sales increased by 3%. In local currencies, net sales decreased by 4%.
  • The company's reported operating profit plunged to SEK 902 million from SEK 6.27 billion last year, corresponding to an operating margin of 1.6% versus 11.3% a year ago.
  • H&M said its one-off cost for business exit from Russia was SEK2.1 billion.
  • Helena Helmersson, CEO, said, "The third quarter has largely been impacted by our decision to pause sales and then wind down the business in Russia."
  • "In common with the rest of the industry, sales were weak in many of our major markets at the start of the period. Sales then gradually improved, despite of a heatwave in several European countries and some remaining delays in the supply of goods."
  • Price Action: HNNMY shares closed at $1.87 on Wednesday.
  • 时尚零售商Hennes&Mauritz AB(场外交易：HNNMY) 公布了一项20亿瑞典克朗(约合1.78亿美元)的成本节约计划，以进一步精简业务。
  • 该公司预计，该计划节省的资金将在2023年下半年显现出来。
  • H&M第三季度净销售额增长3%。以当地货币计算，净销售额下降了4%。
  • 该公司公布的营业利润从去年的62.7亿瑞典克朗暴跌至9.02亿瑞典克朗，营业利润率为1.6%，而去年同期为11.3%。
  • H&M表示，其从俄罗斯退出业务的一次性成本为21亿瑞典克朗。
  • 首席执行官海伦娜·海默森表示： "第三季度很大程度上受到了我们决定暂停销售，然后关闭在俄罗斯的业务的影响。
  • 与业内其他公司一样，我们许多主要市场的销售在这一时期开始时疲软。随后销售逐渐改善，尽管几个欧洲国家出现热浪，商品供应仍有一些延迟。
  • 价格行动：HNNMY股价周三收于1.87美元。
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