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H&M's Profits Plunge 53%, CEO Optimistic for Recovery

3/27/2025

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Summary

Story summary

H&M faced a staggering 53% plunge in net profit for the first quarter, landing at 579 million kronor ($57.7 million), primarily due to markdowns and investments. Despite a modest 2% sales rise to 55.33 billion kronor, CEO Daniel Ervér remains optimistic, projecting a 1% sales boost in March while prioritizing brand enhancement and customer experience.

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Story summary

H&M faced a staggering 53% plunge in net profit for the first quarter, landing at 579 million kronor ($57.7 million), primarily due to markdowns and investments. Despite a modest 2% sales rise to 55.33 billion kronor, CEO Daniel Ervér remains optimistic, projecting a 1% sales boost in March while prioritizing brand enhancement and customer experience.