Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

HENNES & MAURITZ

(HM B)
My previous session
Most popular
  Report  
Delayed Quote. Delayed NASDAQ OMX STOCKHOLM - 02/22 11:29:30 am
139.96 SEK   +0.23%
02/14HENNES & MAURITZ : Weekday to open second store in Paris
PU
02/05Bangladesh suppliers to H&M, Next lay off workers after wage protests
RE
01/31H&M blames online investment for latest profit decline
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Hennes & Mauritz : Zara owner Inditex lifts sales forecasts on warm autumn range reception

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/12/2018 | 07:15am EST
FILE PHOTO: Christmas decorations are seen in the windows of a Zara clothing store in Zurich

MADRID (Reuters) - Zara owner Inditex said on Wednesday its autumn clothing collections had been well received and forecast a second-half sales rise of up to 6 percent and improved profitability, despite a strong euro.

The world's biggest clothing retailer, which is controlled by Europe's richest man, Amancio Ortega, said customers had welcomed its latest ranges, featuring items such as printed dresses with embroidery and corduroy coats.

Despite strength in the euro against its key currencies, Inditex said net profit was 1.41 billion euros, in line with analyst forecasts, on sales for the six months to end-July of 12 billion euros (£10.69 billion), up 3 percent year-on-year.

Inditex makes most of its clothes in the euro zone to respond quickly to fashion trends, but generates more than half of its sales in countries outside the currency bloc. Some currencies like the Russian rouble and the Turkish lira, have weakened significantly against the euro over the past year.

"Foreign currency effects are very much against Inditex at the moment," said Anne Critchlow of Societe Generale, who rates the stock a 'Buy'.

Inditex, which owns upmarket label Massimo Dutti and underwear label Oysho, said its first-half gross margin had risen 4 percent on the year and estimated this measure of profitability would expand by some 50 basis points during the second half of the year.

FAST FASHION

Shares in Inditex were 2.6 percent higher at 0823 GMT as investors responded positively to the upbeat second half forecasts on sales growth and profit margin.

"Management expects a growth in comparable sales of between 4 and 6 percent in the second half of 2018," it said in a statement. It did not give its customary update on trading for the first six weeks of the new quarter.

Analysts expect 2018 to be the sixth consecutive year of margin decline at the operating level due to currency effects.

Some analysts have said Inditex is cutting prices to remain competitive as others adapt its 'fast fashion' model, where catwalk looks are shipped to shop rails in a matter of weeks.

Fast-growing new entrants like Britain's Boohoo.com, unburdened by large store estates, are bringing production much closer to distribution and continuously refreshing merchandise.

Inditex stock has fallen 12 percent in the year to date and took a tumble in August when Morgan Stanley cut its price target and gave it an 'underweight' rating for the first time in the investment bank's 17 years of covering the stock.

(Editing by Stephen Coates and Alexander Smith)

By Sonya Dowsett

Stocks mentioned in the article
ChangeLast1st jan.
HENNES & MAURITZ 0.23% 139.96 Delayed Quote.10.81%
INDITEX - INDUSTRIA DE DISEÑO TEXTIL 0.39% 25.53 End-of-day quote.13.78%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HENNES & MAURITZ
02/14HENNES & MAURITZ : Weekday to open second store in Paris
PU
02/05Bangladesh suppliers to H&M, Next lay off workers after wage protests
RE
02/03HENNES & MAURITZ : H&M India sees revenue growth slow, but crosses ₹1,000 ..
AQ
01/31H&M blames online investment for latest profit decline
RE
01/31HENNES & MAURITZ : H&M profit drops as retailer adapts to more online shopping
AQ
01/31HENNES & MAURITZ : H&M Net Profit Misses Forecasts But It Says Turnaround Starti..
DJ
01/31HENNES & MAURITZ : H & M Hennes & Mauritz AB Full-year report
AQ
01/28H & M HENNES & MAURITZ AB : annual earnings release
01/24HENNES & MAURITZ : EYTYS x H&M LAUNCHES WITH EXCLUSIVE PARTY IN STOCKHOLM
PU
01/18HENNES & MAURITZ : Monki's coming!
PU
More news
Financials (SEK)
Sales 2019 220 B
EBIT 2019 16 056 M
Net income 2019 12 613 M
Debt 2019 10 603 M
Yield 2019 6,32%
P/E ratio 2019 18,31
P/E ratio 2020 17,26
EV / Sales 2019 0,97x
EV / Sales 2020 0,95x
Capitalization 204 B
Chart HENNES & MAURITZ
Duration : Period :
Hennes & Mauritz Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HENNES & MAURITZ
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 25
Average target price 127  SEK
Spread / Average Target -9,4%
EPS Revisions
Managers
NameTitle
Karl-Johan Persson Chief Executive Officer
Stefan Persson Chairman
Jyrki Tervonen Chief Financial Officer
Morten Halvorsen Head-Information Technology
Anders Gunnar Dahlvig Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HENNES & MAURITZ10.81%21 780
LVMH MOËT HENNESSY VUITTON SE15.01%170 063
VF CORPORATION21.81%33 943
LULULEMON ATHLETICA INC.21.79%19 610
MONCLER19.94%10 058
RALPH LAUREN CORP22.02%9 925