H & M Hennes & Mauritz AB B

H & M Hennes & Mauritz is engaged in the sale of clothing and cosmetics in Sweden and internationally. Co.'s stores offer basics, tailored classics, sportswear, and maternity clothes for women; basics, leisurewear, and seasonal fashions for men; denim and street fashions; and fashion wear for children and teenagers, as well as accessories, underwear, and shoes. Co. also provides makeup and body care products; and home fashion products, which include interior textiles for the bedroom, bathroom, living room, and kitchen. Co. has approximately 3,132 stores, including 110 franchise stores, 85 COS stores, 79 Monki stores, 21 Weekday stores, 8 & Other Stories stores and 3 Cheap Monday stores.
  • TickerHM B
  • ISINSE0000106270
  • ExchangeNasdaq Nordic Stockholm
  • SectorGeneral Retailers
  • CountrySweden

Analysts

Hennes & Mauritz

Jørgen Lian ...
  • Martin Arnell
  • Mats Bye
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Martin Arnell

Hennes & Mauritz (Sell, TP: SEK145.00) - It gets more real from here

After a strong start to the quarter (12% growth YOY in June) Q3 sales grew 8% YOY in local currencies, in line with consensus. We expect a Q3 gross margin down slightly YOY and EBIT growth of 20% YOY on the very easy comparables. We acknowledge the sales improvement YTD but struggle with the structural trends and valuation. We reiterate our SELL recommendation but have raised our target price to SEK145 (140) reflecting our fine-tuned forecast.

1 director bought

A director at H & M Hennes & Mauritz Ab bought 12,200 shares at 163.130SEK and the significance rating of the trade was 65/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Martin Arnell ...
  • Ole-Andreas Krohn

Northern Lights

Hennes & Mauritz

Martin Arnell

Hennes & Mauritz (Sell, TP: SEK145.00) - It gets more real from here

After a strong start to the quarter (12% growth YOY in June) Q3 sales grew 8% YOY in local currencies, in line with consensus. We expect a Q3 gross margin down slightly YOY and EBIT growth of 20% YOY on the very easy comparables. We acknowledge the sales improvement YTD but struggle with the structural trends and valuation. We reiterate our SELL recommendation but have raised our target price to SEK145 (140) reflecting our fine-tuned forecast.

Martin Arnell

Hennes & Mauritz (Sell, TP: SEK140.00) - Tough times unlikely to disappear

We have raised our 2019e EPS slightly on the strong start to Q3 (June sales up 12% YOY). The company-specific improvements visible in better sales growth are promising, but we expect structural concerns and lack of a substantial earnings uplift to hamper the shares at the current high valuation. We maintain our SELL and have raised our target price to SEK140 (120).

Hennes & Mauritz

Jelena Sokolova

Morningstar | H&M's Sales Accelerate but Profits Still Impacted by Investments; Fair Value Estimate Maintained

We are maintaining our fair value estimate of SEK 153 per share for H&M as the company reported a slight decline in operating profit in the second quarter. Although revenue increased by 11% in SEK and 6% in local currencies, margins remained under pressure. Gross margin declined to 55.4% from 56.1% a year ago, despite reduction of markdown costs in the quarter by 1 percentage point, negatively impacted by a strengthening USD (major sourcing currency) and H&M’s investments in customer quality/value proposition (which we regard positively, given the competitiveness of the market and H&M’s scale ...

1 director bought

A director at H & M Hennes & Mauritz Ab bought 12,200 shares at 163.130SEK and the significance rating of the trade was 65/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Jørgen Lian ...
  • Martin Arnell
  • Mats Bye
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Martin Arnell ...
  • Ole-Andreas Krohn

Northern Lights

Eivind Sars Veddeng ...
  • Jon Masdal
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Jon Masdal ...
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Paul Harper

Northern Lights

Ng Adrian

Hennes & Mauritz

Ng Adrian

Hennes & Mauritz

Ng Adrian

Hennes & Mauritz

Ng Adrian

Hennes & Mauritz

Ng Adrian

Hennes & Mauritz

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Expert Corporate Governance Service (ECGS)

Hennes & Mauritz - AGM 07 May 2019

In general, Hennes & Mauritz ("H&M") is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 12.1-12.8, the (re-)election of the board of directors is proposed. In light of concerns over aggregate time commitments ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Anders Dahlvig (ITEM 12.2). Under ITEM 13, the nomination committee proposes to re-appoint Ernst & Young as the Company's statutory auditor. In view of the substantial level of non-audit fees as well as the current term in office of the auditor, ...

Expert Corporate Governance Service (ECGS)

Hennes & Mauritz - AGM 07 May 2019

In general, Hennes & Mauritz ("H&M") is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 12.1-12.8, the (re-)election of the board of directors is proposed. In light of concerns over aggregate time commitments ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Anders Dahlvig (ITEM 12.2). Under ITEM 13, the nomination committee proposes to re-appoint Ernst & Young as the Company's statutory auditor. In view of the substantial level of non-audit fees as well as the current term in office of the auditor, ...

Hennes – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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