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    HM B   SE0000106270

HENNES & MAURITZ AB

(HM B)
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Delayed Quote. Delayed Nasdaq Stockholm - 10/26 11:29:53 am
170.4 SEK   +2.65%
10/06H&M : Deutsche Bank reiterates its Sell rating
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10/01HENNES & MAURITZ : Notice of general meeting
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09/30H&M : Credit Suisse keeps a Sell rating
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Hennes & Mauritz : Levi Strauss sustainability chief leaves Better Cotton Initiative board

08/06/2021 | 01:09pm EDT

Aug 6 (Reuters) - Levi Strauss & Co's chief sustainability officer, Jeff Hogue, has left the board of trade body Better Cotton Initiative (BCI), the denim maker said on Friday.

Earlier this year, several brands including Swedish fashion chain H&M and sportswear maker Nike as well as BCI became targets of some Chinese internet users after they raised concerns about alleged forced labor in Xinjiang.

Members of the coalition remain torn over how and when to respond to the Chinese attacks, with some wanting BCI to swiftly and forcefully rebut the attacks and others pushing for a slower and more cautious approach, the Wall Street Journal reported https://on.wsj.com/3isu2Mj on Friday, citing people familiar with the matter.

Members of BCI that promotes sustainable cotton production include Nike, Adidas, H&M and Japan's Fast Retailing.

The China branch of BCI, however, said in March it had found no signs of forced labor in Xinjiang.

The Journal said BCI deleted from its website a statement about its concerns in Xinjiang four months ago and has not commented since.

BCI declined to comment.

Levi Chief Executive Officer Chip Bergh said in April the brand had not been doing any business in Xinjiang in more than a decade, noting China typically accounts for only about 3% of its total revenue.

Hogue, who joined the Dockers brand owner as the sustainability chief last year, is building the sustainability strategy and team, a Levi spokesperson said on Friday. Levi declined to comment on the reason for his stepping down. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Maju Samuel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG 0.94% 279.95 Delayed Quote.-6.90%
HENNES & MAURITZ AB 2.65% 170.4 Delayed Quote.-3.49%
All news about HENNES & MAURITZ AB
10/06H&M : Deutsche Bank reiterates its Sell rating
MD
10/01HENNES & MAURITZ : Notice of general meeting
AQ
09/30H&M : Credit Suisse keeps a Sell rating
MD
09/30H&M : Jefferies gives a Neutral rating
MD
09/30H&M : Receives a Buy rating from RBC
MD
09/30H&M : Goldman Sachs remains Neutral
MD
09/30H&M : Buy rating from RBC
MD
09/30HENNES & MAURITZ : Low-cost fashion chain H&M sees sales pick up after virus
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09/30HENNES & MAURITZ : Board of H & M Hennes & Mauritz AB proposes dividend
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09/30H & M Hennes & Mauritz AB Proposes Dividend, Payable on 4 November
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Financials
Sales 2021 200 B 23 215 M 23 215 M
Net income 2021 10 280 M 1 194 M 1 194 M
Net Debt 2021 44 688 M 5 189 M 5 189 M
P/E ratio 2021 27,4x
Yield 2021 4,10%
Capitalization 282 B 32 726 M 32 746 M
EV / Sales 2021 1,63x
EV / Sales 2022 1,44x
Nbr of Employees 153 000
Free-Float 43,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 170,40 SEK
Average target price 201,65 SEK
Spread / Average Target 18,3%
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Managers and Directors
Gudrun Helena Lundberg Helmersson Chief Executive Officer
Adam Gustav Karlsson Chief Financial Officer
Karl-Johan Erling Persson Chairman
Alan Boehme Chief Technology Officer
Anders Gunnar Dahlvig Independent Director
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