H&M Hennes & Mauritz AB said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2016, amounted to 2.80 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 3.25 kronor per share.
EPS climbed year over year from 2.70 kronor.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.63 billion kronor, an increase from 4.47 billion kronor in the prior-year period.
The normalized profit margin fell to 8.8% from 9.2% in the year-earlier period.
Total revenue grew 8.3% year over year to 52.72 billion kronor from 48.69 billion kronor, and total operating expenses increased 9.0% year over year to 45.37 billion kronor from 41.61 billion kronor.
Reported net income rose 7.0% on an annual basis to 5.91 billion kronor, or 3.57 kronor per share, from 5.53 billion kronor, or 3.34 kronor per share.
For the year, the company's normalized net income totaled 9.08 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11.00 kronor.
EPS declined 11.8% from 10.29 kronor in the prior year.
Normalized net income was 15.02 billion kronor, a fall of 11.8% from 17.03 billion kronor in the prior year.
Full-year total revenue rose 6.3% on an annual basis to 192.27 billion kronor from 180.86 billion kronor, and total operating expenses grew 9.4% year over year to 168.44 billion kronor from 153.92 billion kronor.
The company said reported net income decreased 10.8% on an annual basis to 18.64 billion kronor, or 11.26 kronor per share, in the full year, from 20.90 billion kronor, or 12.63 kronor per share.
As of March 31, US$1 was equivalent to 8.93 Swedish kronor.