H&M subdued in the third quarter, + 3% of revenues disappointed expectations

H&M, revenues up (+ 3%) in the third quarter: disappointed by the expectation of 5% of analysts

H&M disappoints expectations. The Swedish clothing giant closed the third quarter of 2022 with sales of 57.5 billion Swedish kronor (about 5.38 billion euros), up 3% compared to the same quarter of the previous year.

A result that is below 5% compared to the expectations of analystsreports Reuters, due to inflation and the consequent increases in energy prices. Scenery that sees, in the face of higher bills and higher spending, decrease the purchasing power of consumers.

“The third quarter got off to a weak start – reads the company’s official branch – in line with the sector in many of the group’s main markets”. However, he adds a positive note: “Sales then improved during the quarter, with a better start to the autumn collections than last year”.

As reported Pambiancothe quarterly deviates from the result just scored by the rival Inditex, which closed a golden first half also thanks to the performance of the last three months. The shadows of the current macroeconomic scenario, however, also worry the Spanish giant and represent an unknown factor for the entire fast fashion segment and beyond.

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