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

HENNES & MAURITZ

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H&M opens new-look small boutique in Berlin, plans more

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10/25/2019 | 05:08am EST
H&M opens a new-look concept store in Berlin

BERLIN, (Reuters) - H&M opened a boutique-like store in a trendy neighbourhood in Berlin on Friday that offers yoga classes, a cafe with a garden and space for other brands as the Swedish budget chain seeks a new look to revive flagging sales.

H&M first piloted the idea of a smaller, more upmarket store in its home town of Stockholm last year and is now bringing the concept to its biggest market of Germany, where it runs 462 of its 4,972 stores worldwide.

The move comes as H&M invests heavily and tries new concepts after years of falling profits and growing inventories due to slowing sales at its core budget stores, recently posting its first rise in quarterly pretax profit in more than two years.

The Berlin store is about a fifth of the size of regular H&M stores and features clothes selected to appeal to local tastes, as well as perfumes, "vegan" cosmetics, handbags and second-hand garments from partner brands.

"We need stores closer to where people hang out. We are not used to operating in smaller spaces," said Anna Bergare, head of business development at the H&M Lab, which is testing new concepts and technology.

The new store stocks a limited range of mostly casual womenswear, but also features a few men's jackets and T-shirts and yoga gear aimed at customers attending classes in the store.

It offers innovations such as buttons shoppers can press in changing rooms linked to devices worn by staff and screens in the cafe area where they can search the full H&M range.

Bergare said the store is an attempt to respond to the rise of ecommerce and to tap into a tendency for people to spend more time and money on experiences rather than possessions.

She admitted that the new concept was demanding in terms of staff training and event management but said its success should not just be measured by its sales, but in terms of how it builds relationships with customers, who might later buy online.

"We see the potential to have this in other places as well," she said. "There are a lot of these hubs that are very creatively driven that could benefit from these stores."

(Reporting by Emma Thomasson; Editing by Alexandra Hudson)

By Emma Thomasson

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Financials (SEK)
Sales 2019 233 B
EBIT 2019 16 763 M
Net income 2019 13 030 M
Debt 2019 11 984 M
Yield 2019 5,06%
P/E ratio 2019 24,3x
P/E ratio 2020 22,4x
EV / Sales2019 1,41x
EV / Sales2020 1,34x
Capitalization 316 B
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Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 164,77  SEK
Last Close Price 191,00  SEK
Spread / Highest target 23,0%
Spread / Average Target -13,7%
Spread / Lowest Target -60,7%
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
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KERING31.20%74 961
FAST RETAILING CO., LTD.17.76%59 811
ROSS STORES36.41%41 053
ZALANDO86.85%11 579