stockholmswedish fashion retailer hennes  mauritz ab reported results for its fiscal fourth quarter ended nov 30 on friday heres what we watched net profit the fashion retailer posted a net loss of 864 million swedish kronor 841 million for the quarter ended nov 30 compared with a profit of sek462 billion a year earlier analysts polled by factset had expected a profit of sek266 billion sales the company had already released preliminary fourthquarter sales figures sales rose 99 to sek6243 billion in the quarter margins the gross margin fell to 497 from 552 external factors for purchases made for the fourth quarter including hikes in raw materials and freight costs combined with a historically strong us dollar resulted in extensive cost increases for purchases of goods it said the operating margin fell to 13 from 110 mainly explained by the external factors loss of the operating profit previously contributed by russia and the onetime cost of the cost and efficiency program hm added the external factors are still challenging but are moving in the right direction and combined with investments and efficiency improvements the company said there are very good prerequisites for 2023 to be a year of increased sales improved profitability and lower inventory thus our goal of achieving a doubledigit operating margin for fullyear 2024 remains in place ceo helena helmersson said current tradingoutlook group sales increased by 5 in local currencies in the period dec 1 2022jan 25 2023 compared with the same period last year excluding russia belarus and ukraine sales increased by 9 in local currencies hm said the cost of markdowns in relation to sales in the first quarter of fiscal 2023 is expected to increase slightly compared with the corresponding quarter the previous year sales on secondhand platform sellpy increased by 85 in the full year and are expected to exceed sek1 billion in fy 2023 it said accounts for sellpy will be consolidated into the hm groups financial statements as of the first quarter of fiscal 2023 shareholder returns the board is proposing an unchanged ordinary dividend of sek650 a share to be paid in two instalments the board will also seek authorisation allowing it to buy back the groups own b shares in the period up to the 2024 annual general meeting for a maximum of sek3 billion the board of directors will wait to see how the company develops during the year and the authorisation will only be used if certain conditions are met it said