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

HENNES & MAURITZ AB

(HM B)
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Delayed Quote. Delayed NASDAQ OMX STOCKHOLM - 09/25 11:29:41 am
147.2 SEK   +0.41%
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Hennes & Mauritz : Zara owner Inditex says store sales recovering as it returns to profit

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09/16/2020 | 03:28am EDT
A Zara logo can be seen at the entrance of a Zara store, an Inditex brand, in Vienna

The owner of fashion retailer Zara, Inditex, returned to quarterly profit in the three months from May to July despite a 31% fall in sales as the coronavirus crisis kept consumers away from city centre shopping districts.

Inditex, which also owns the Massimo Dutti and Bershka brands, said 98% of its stores had reopened and that current trade showed a progressive return to normality with online sales growing sharply and store sales recovering.

In the current quarter, sales in store and online from Aug. 1 to Sept. 6 at constant exchange rates were on an improving trend, though still down 11% from a year earlier.

Inditex shares rose 5% on Wednesday morning, adding to gains booked on Tuesday after Swedish rival H&M beat quarterly profit forecasts.

Shoppers have started to buy fashion again since stores reopened following shutdowns. JP Morgan estimates continental Europe fashion sales were down 15% in July on average compared to May's 42% drop.

Inditex reported a second-quarter net profit of 214 million euros ($253 million), beating the 96 million euro mean forecast from Refinitiv's SmartEstimate model, which is weighted towards more recent estimates and higher-ranked analysts.

It saw a 74% jump in online sales in the first half, a trend seen at apparel retailers worldwide, as shoppers bought from home with many stores closed and movement restrictions in place.

In a sign of how apparel spending has switched to more comfortable styles with many working from home and parties cancelled, Zara's app showed autumn looks with wide trousers and flat shoes on models climbing fences and riding bikes.

For the first half, it reported a net loss of 195 million euros on sales down 37%.

It said it would have reported a profit had it not booked a 308 million euro charge related to its integration of its store and online platforms.

By Sonya Dowsett

Stocks mentioned in the article
ChangeLast1st jan.
HENNES & MAURITZ AB 0.41% 147.2 Delayed Quote.-22.72%
INDUSTRIA DE DISEÑO TEXTIL, S.A. -0.26% 23.42 Delayed Quote.-25.53%
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Financials
Sales 2020 190 B 20 823 M 20 823 M
Net income 2020 1 551 M 170 M 170 M
Net Debt 2020 74 810 M 8 197 M 8 197 M
P/E ratio 2020 152x
Yield 2020 1,89%
Capitalization 244 B 26 676 M 26 693 M
EV / Sales 2020 1,68x
EV / Sales 2021 1,41x
Nbr of Employees 179 000
Free-Float 43,6%
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Technical analysis trends HENNES & MAURITZ AB
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 156,73 SEK
Last Close Price 147,20 SEK
Spread / Highest target 32,5%
Spread / Average Target 6,48%
Spread / Lowest Target -38,9%
EPS Revisions
Managers
NameTitle
Helena Helmersson Chief Executive & Operating Officer
Karl-Johan Erling Persson Chairman
Adam Karlsson Chief Financial Officer
Joel Ankarberg Chief Technology Officer
Anders Gunnar Dahlvig Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HENNES & MAURITZ AB-22.72%26 676
INDUSTRIA DE DISEÑO TEXTIL, S.A.-25.53%84 748
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FAST RETAILING CO., LTD.-0.31%62 628
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ZALANDO SE68.75%22 153