1035 GMT - Sweden's H&M Hennes & Mauritz AB is among the most mentioned European companies across news items over the past 12 hours, according to Factiva data, after posting a lower-than expected third quarter profit. The fashion retailer on Thursday said that net profit fell significantly in the quarter as a one-time cost related to the winding down of its Russian operations impacted the result. Net profit fell to 531 krona million ($46.8 million) from SEK4.69 billion in last year's third quarter and came in below analysts expectations of SEK2.17 billion. Sales were SEK57.45 billion compared with SEK55.59 billion a year earlier. H&M said it had booked a one-time cost of SEK2.10 billion related to the winding down of its Russian operations. "The third quarter has largely been impacted by our decision to pause sales and then wind down the business in Russia," Chief Executive Helena Helmersson said. Dow Jones & Co. owns Factiva.(maitane.sardon@wsj.com)


(END) Dow Jones Newswires

September 29, 2022 06:56 ET (10:56 GMT)

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