Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Hennes & Mauritz    HM B   SE0000106270

HENNES & MAURITZ

(HM B)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

H&M 3Q Profit Rises; Expansion Strongest in China

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/26/2013 | 03:30am EDT
   By Jens Hansegard 
 

STOCKHOLM--Swedish clothing retailer Hennes & Mauritz (HM-B.SK) on Thursday said sales in China have been particularly strong in its third quarter, as it reported net profit rose 22% on the year, topping expectations.

"China is the country where our expansion is strongest," Chief Executive Karl-Johan Persson said, adding that the company opened its store number 3,000 in Chengdu this September. H&M had 170 stores in China on Aug. 31.

The company said its online store in the U.S., launched in August, has been well received by customers.

"H&M will continue its rapid store expansion in the U.S. and sees online shopping as an important complementary sales channel in order to reach even more customers and thereby further strengthen H&M's position in the U.S.," Mr. Persson said.

The company said it is continuing to work on the global roll-out of the online store and plans to launch online shopping in more markets during 2014.

The company repeated its target of increasing its number of stores by 10% to 15% a year, and said that most of the 350 new net stores planned for 2013 will open in China and the U.S.

Sales from Sept. 1 to Sept. 24 increased by 8% in local currencies, the company said, adding that the full month of September will have a negative calendar effect of about 2 percentage points.

The closely-watched gross margin rose to 58.8% in the third quarter from 58.2% last year. H&M said external factors such as raw material prices, cost inflation, and transportation costs were neutral during the purchasing period for the third quarter compared with last year.

"Margins look good, much stronger than we and consensus had expected," says Bernstein analyst Jamie Merriman.

Net profit rose to 4.43 billion Swedish kronor ($690 million) in the third quarter, from SEK3.62 billion last year. Analysts had expected a net profit of SEK4.14 billion.

Sales excluding value-added tax in the third quarter rose to SEK32.04 billion from SEK28.81 billion last year. Operating profit was SEK5.76 billion, up from SEK4.80 billion last year. Analysts had expected operating profit of SEK5.33 billion.

Shares ended Wednesday at SEK263.90, just a few kronor off H&M's record high, valuing the company at SEK436.77 billion.

Write to Jens Hansegard at jens.hansegard@dowjones.com

Order free Annual Report for Industria de Diseño Textil SA

Visit http://djnweurope.ar.wilink.com/?ticker=ES0148396015 or call +44 (0)208 391 6028

Order free Annual Report for Hennes & Mauritz AB

Visit http://djnweurope.ar.wilink.com/?ticker=SE0000106270 or call +44 (0)208 391 6028

Order free Annual Report for Industria de Diseño Textil SA

Visit http://djnweurope.ar.wilink.com/?ticker=US4557931098 or call +44 (0)208 391 6028

Stocks mentioned in the article
ChangeLast1st jan.
HENNES & MAURITZ 1.25% 206.5 Delayed Quote.58.67%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HENNES & MAURITZ
10/10HENNES & MAURITZ : Lifts Stake in Second-Hand Retailer Sellpy to 70%
DJ
10/10HENNES & MAURITZ : H&M Group continues to invest in Sellpy
AQ
10/07HENNES & MAURITZ : How sustainable is sustainable cotton?
PU
10/04HENNES & MAURITZ : H&M shares surge after successful summer collections boost ea..
AQ
10/03HENNES & MAURITZ : H&M shares surge after first quarterly profit rise in two yea..
RE
10/03HENNES & MAURITZ : H&M Posts 3Q Net Profit Beat -- Earnings Review
DJ
10/03HENNES & MAURITZ : H&M shares surge after first quarterly profit rise in two yea..
RE
10/03HENNES & MAURITZ : Ted Baker shares battered after CEO flags dire UK retail clim..
RE
10/03HENNES & MAURITZ : Ted Baker shares battered after CEO flags dire UK retail clim..
RE
10/03EUROPE : European shares bounce back from trade shock as Airbus jumps
RE
More news
Financials (SEK)
Sales 2019 233 B
EBIT 2019 16 805 M
Net income 2019 13 078 M
Debt 2019 12 073 M
Yield 2019 4,68%
P/E ratio 2019 26,1x
P/E ratio 2020 24,2x
EV / Sales2019 1,52x
EV / Sales2020 1,44x
Capitalization 342 B
Chart HENNES & MAURITZ
Duration : Period :
Hennes & Mauritz Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HENNES & MAURITZ
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 165,22  SEK
Last Close Price 206,50  SEK
Spread / Highest target 13,8%
Spread / Average Target -20,0%
Spread / Lowest Target -63,7%
EPS Revisions
Managers
NameTitle
Karl-Johan Erling Göran Persson Chief Executive Officer
Stefan Persson Chairman
Helena Helmersson Chief Operating Officer
Jyrki Tervonen Chief Financial Officer
Joel Ankarberg Head-Information Technology
Sector and Competitors
1st jan.Capitalization (M$)
HENNES & MAURITZ58.67%34 342
INDUSTRIA DE DISEÑO TEXTIL, S.A.27.11%97 513
KERING14.60%64 989
FAST RETAILING CO., LTD.20.98%59 550
ROSS STORES33.89%40 297
ZALANDO85.03%11 376