Bryan Garnier - HM (HMB) HM: calendar effect and focus on cost discipline in Q4

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Bryan Garnier

Cedric Rossi

H&M: calendar effect and focus on cost discipline in Q4

In its Q4 2024 (Sep-Nov), H&M incurred a calendar effect (i.e. Black Friday events more skewed towards H&M's Q1 FY25) which led to a 2% miss on sales expectations (SEK62,193m vs. CSSe at SEK63,476m). However, it also had a positive impact on Q4 GM, helped by a focus on full-price sales, whi

30/01/2025 1 EN

Underlying

H&M

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Provider

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.

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Analysts

Cedric Rossi

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H&M: calendar effect and focus on cost discipline in Q4

On the shelves now: Consumer weekly #41

H&M: blurred margin trajectory due to brand's investments to fuel sales growth

MedinCell: Confident for a continued growth for Uzedy in 2025

ITM Power: H1 results, moving forward

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