H&M: blurred margin trajectory due to brand's investments to fuel sales growth
Although the reduced 10% margin target came as no surprise since the CSSe has always been more conservative (8.2%e prior to Q3 publication), it reflects H&M's initiatives around brand activation and improved competitiveness to revitalise top-line growth. Negative external factors and markdown i
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.
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