Report
Cedric Rossi

H & M - BUY | SEK195(+3%) H&M’s ongoing digital transformation gives hopes despite a tough start to the year

H & M - BUY | SEK195(+3%)
H&M’s ongoing digital transformation gives hopes despite a tough start to the year

Q1 trends: tough start due to ongoing restrictions and store closures
H&M continues to streamline its opex structure…
… and to improve Working Cap
Digital transformation more crucial than ever
Underlying
H&M Hennes & Mauritz AB Class B

H & M Hennes & Mauritz is engaged in the sale of clothing and cosmetics in Sweden and internationally. Co.'s stores offer basics, tailored classics, sportswear, and maternity clothes for women; basics, leisurewear, and seasonal fashions for men; denim and street fashions; and fashion wear for children and teenagers, as well as accessories, underwear, and shoes. Co. also provides makeup and body care products; and home fashion products, which include interior textiles for the bedroom, bathroom, living room, and kitchen. Co. has approximately 3,132 stores, including 110 franchise stores, 85 COS stores, 79 Monki stores, 21 Weekday stores, 8 & Other Stories stores and 3 Cheap Monday stores.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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