H&M Delivers Improved Profitability Despite Store Cuts

H&M reported stronger profitability and tight cost control for the fiscal year, with the fourth quarter ending Nov. 30 showing a 2% sales increase and operating profit rising 38% to US$738.3 million, lifting the operating margin to 10.7%. Annual net sales rose 2% in local currencies (reported sales $25.7 billion), operating profit reached $2.1 billion, and the retailer forecasts a 2% sales decline while planning Latin America expansion and increased AI use.