LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

H&M scraps monthly sales figures but promises more transparency

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Jul 17, 2017
05:12 pm
Reuters

Swedish fashion group H and M will start holding capital market days, breaking with tradition and yielding to investor pressure although it also said it would stop posting monthly sales figures.

After decades of strong growth, sales growth at the world`s second-biggest fashion retailer has slowed over the past couple of years amid tougher competition.

"A month is far too short a period over which to assess how sales are developing," H and M said in a statement. "Instead, sales development should be viewed over a longer period of time, such as over a season or a quarter."

H and M has published monthly sales data for more than a decade, albeit leaving out like-for-like figures since 2014.

A fund manager who declined to be identified said less information was never good.

"This shows how frustrated they are that the market has lost confidence in the company. The fundamental problem is not monthly data, it`s the company`s weak development," the fund manager said.

"Monthly data was not a problem when the company performed well. Why should it be now?"

H and M shares have been on a downward slope since 2015, underperforming the market and especially bigger rival Zara owner Inditex, with the shares falling 18 percent in the past year alone. Analysts and investors have said the company is too tight-lipped on strategy and outlook.

In one concession, Chief Executive Karl-Johan Persson of the founding and main owner family last month for the first time took part in a quarterly public conference call about results.

H and M, which has never held a capital markets for investors since its listing in 1974, said it would begin to do so in order to provide "more in-depth information about the business".

Anders Oscarsson, head of ownership at pension fund AMF, one of H and M`s biggest owners, welcomed the plans for capital market days. Dropping monthly sales publications was fine, he said, adding that the fund remained a long-term investor in H and M.

H and M, which does not publish earnings guidance, on Monday confirmed a preliminary June local-currency sales growth reading of 7 percent - in its last such monthly publication.

Shares were up 2.2 percent at 1115 GMT.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Infosys share price: Expert says buy for a target of Rs 1710

PUBG Mobile Update: Massive achievement for PUBG New State; Check details NOW

NEW RESTRICTIONS in Maharashtra from 8 PM TOMORROW, CM Uddhav Thackeray says in his address to the STATE

iQOO 7 series India launch date revealed: Check expected price, specifications and details here

CBSE Board exam 2021: After Maharashtra, UP boards, will CBSE CANCEL examinations? Here is latest news by official

Yes Bank Share price can multiply 2x to 3x over this period, says expert

CBSE Board Exam 2021: Cancel exams? 'CANCEL CBSE EXAMS', says Arvind Kejriwal - latest news and updates here

Bihar Police constable PET final result 2021: CBSC declares result on csbc.bih.nic.in; steps and direct link here

In chat with Anil Singhvi, analyst Vikas Sethi recommends Tata Motors, JSPL as top buys for big gains

CBSE Board Exams 2021 – Students just cannot afford to miss what happened in this official meeting as calls to cancel exams get louder

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved