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

HENNES & MAURITZ

(HM B)
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Hennes & Mauritz : H&M Net Profit Beats Forecasts with Well-Received Collections, Fewer Markdowns

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10/03/2019 | 02:46am EST

By Dominic Chopping

STOCKHOLM--Hennes & Mauritz AB (HM-B.SK) Thursday posted a forecast-beating rise in third-quarter net profit as new collections and fewer markdowns helped offset higher costs from turnaround efforts.

The Swedish fashion retailer posted a net profit of 3.86 billion Swedish kronor ($391 million) for the quarter ended Aug. 31, compared with SEK3.1 billion a year earlier. Analysts polled by FactSet had expected a profit of SEK3.76 billion.

Sales rose to SEK62.57 billion from SEK55.82 billion, as previously announced, while net sales in September are estimated to have increased by 8% on the year in local currencies.

"Well-received summer collections and increased market share show that we are on the right track with our transformation work to meet customers' ever-increasing expectations," said Chief Executive Karl-Johan Persson.

"The continued development of more full-price sales and reduced markdowns contributed to a 26 percent increase in operating profit in the third quarter, all while maintaining a high level of activity in our transformation work."

Write to Dominic Chopping at dominic.chopping@wsj.com

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Financials (SEK)
Sales 2019 233 B
EBIT 2019 16 775 M
Net income 2019 13 045 M
Debt 2019 12 010 M
Yield 2019 5,22%
P/E ratio 2019 23,4x
P/E ratio 2020 21,6x
EV / Sales2019 1,37x
EV / Sales2020 1,30x
Capitalization 306 B
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Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 164,09  SEK
Last Close Price 185,08  SEK
Spread / Highest target 27,0%
Spread / Average Target -11,3%
Spread / Lowest Target -59,5%
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
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