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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 halts leather purchases from Brazil due to Amazon wildfires

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09/05/2019 | 01:32pm EST
Logo of H&M is seen in a display window of a store in Zurich, Switzerland

STOCKHOLM (Reuters) - H&M, the world's second-biggest fashion retailer, said on Thursday it had stopped purchasing leather from Brazil for the time being due to environmental concerns highlighted by Amazon wildfires.

Sweden-based H&M follows VF Corp, owner of shoe and clothing brands including Timberland, Vans and North Face, which made a similar announcement last week in response to the fires.

Thousands of fires tearing through the Amazon have spawned an international crisis for Brazil, with public protests and world leaders voicing concern that the government of Jair Bolsonaro is doing too little to protect the world's largest tropical rainforest.

Fears have been growing in Brazil that companies would step back from the country amid adverse publicity surrounding the burning forest and the prospect of international sanctions.

"Due to the severe fires in the Brazilian part of the Amazon rainforest, and the connections to cattle production, we have decided to place a temporary ban on leather from Brazil," H&M said in an emailed statement.

"The ban will be active until there are credible assurance systems in place to verify that the leather does not contribute to environmental harm in the Amazon," it said.

Brazil's space research agency INPE says a surge this year in fires is the worst since 2010.

An H&M spokeswoman said the vast majority of the group's leather originates from Europe and only a very small part from Brazil.

According to the Center for the Brazilian Tanning Industry, the main leather trade group in Brazil, the country exported $1.44 billion of bovine leather in 2018. Its largest export markets were the United States, China and Italy.

(Reporting by Anna Ringstrom; Additional reporting by Christian Plumb in Sao Paolo, Editing by Elaine Hardcastle and Susan Fenton)

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Financials (SEK)
Sales 2020 244 B
EBIT 2020 17 985 M
Net income 2020 13 955 M
Debt 2020 12 076 M
Yield 2020 5,16%
P/E ratio 2020 21,8x
P/E ratio 2021 20,3x
EV / Sales2020 1,30x
EV / Sales2021 1,25x
Capitalization 306 B
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Technical analysis trends HENNES & MAURITZ
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 25
Average target price 165,57  SEK
Last Close Price 184,86  SEK
Spread / Highest target 27,1%
Spread / Average Target -10,4%
Spread / Lowest Target -59,4%
EPS Revisions
Managers
NameTitle
Karl-Johan Erling 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 & MAURITZ-2.95%32 221
INDUSTRIA DE DISEÑO TEXTIL, S.A.-0.54%108 452
KERING3.40%84 213
FAST RETAILING CO., LTD.2.23%60 415
ROSS STORES1.16%42 693
ZALANDO3.12%12 898