Shares of fashion giant H&M drop as fourth-quarter sales miss estimates

Shares of H&M dropped after the retailer missed sales forecasts in the fourth quarter, with sales coming in below expectations at 62.19 billion Swedish krona. The company attributed the shortfall to the later Black Friday occurrence but saw an increase in sales in December and January. Despite the sales miss, full-year operating profit slightly exceeded expectations, with H&M posting an operating profit of 17.3 billion Swedish krona for 2024, leading to a more than 3% drop in shares on Thursday.

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