H&M Hennes & Mauritz AB said its normalized net income for the fiscal first quarter ended Feb. 28 came to 1.78 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 2.03 kronor per share.
EPS climbed 35.5% year over year from 1.32 kronor.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.95 billion kronor, an increase of 35.5% from 2.18 billion kronor in the year-earlier period.
The normalized profit margin climbed to 7.3% from 6.8% in the year-earlier period.
Total revenue grew 25.3% year over year to 40.28 billion kronor from 32.14 billion kronor, and total operating expenses rose 24.0% on an annual basis to 35.64 billion kronor from 28.74 billion kronor.
Reported net income rose 36.4% from the prior-year period to 3.61 billion kronor, or 2.18 kronor per share, from 2.65 billion kronor, or 1.60 kronor per share.
As of March 24, US$1 was equivalent to 8.51 Swedish kronor.
