Bryan Garnier - HM (HMB) HM: margin upturn slow to materialise

Report

Bryan Garnier

Cedric Rossi

H&M: margin upturn slow to materialise

The change in CEO announced yesterday clearly took the spotlight over weaker-than-expected Q4 results. H&M is also experiencing a tougher start to Q1 relative to Inditex and Primark given the sales decline of 4% FX-n between 1st December and 28th January, as well as a markdown impact of 100bp e

01/02/2024 1 EN

Underlying

H&M

See profile

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.

See profile

Analysts

Cedric Rossi

Other Reports on these Companies

Bryan Garnier

H&M: Q1 margin trajectory more appealing than sales trends

Q1 2024 results unveiled yesterday by H&M showed impressive profit momentum, while March sales (+2% FX-n) improved sequentially vs. Q1 (-2% FX-n), albeit well below the pace of growth at Inditex. Although we increase our FY24 estimates by 5% following these stronger-than-expected Q1 profits, we

March 28, 2024 March 28, 2024 1 EN

Bryan Garnier

On the shelves now: Consumer Weekly #21

In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at the expected growth recovery among e-commerce players and the necessary b

March 18, 2024 March 18, 2024 1 EN

Bryan Garnier

On the shelves now: Consumer Weekly #15

In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage from Luxury & Consumer goods, to Retail & E-commerce and Food & Ingredients. This week, we take a look at the latest economic data on US consumers as we think they could pr

February 5, 2024 February 5, 2024 1 EN

Ebusco: The expert e-bus platform

Following the publication of our industry note entitled "Electrifying the future of on-road HDVs", we initiate coverage of Ebusco with a Buy rating and a price target of EUR5.5.Founded in 2012, Ebusco is a Dutch designer and manufacturer of fully electric transit-buses, both for city or regional us

May 16, 2024 May 16, 2024 1 EN

Paul de Froment ... (+3)

Paul de Froment
Sebastián Marroquin Mérida
Thomas Mordelle

Nikola Corp: The dual e-trucking arm

Following the publication of our industry note entitled "Electrifying the future of on-road HDVs", we initiate coverage of Nikola Corp with a Buy rating and a price target of USD1.0.Founded in 2015, Nikola is a pioneering American designer and manufacturer of ZE HDV class 8 trucks, leveraging both

May 16, 2024 May 16, 2024 1 EN

Paul de Froment ... (+3)

Paul de Froment
Sebastián Marroquin Mérida
Thomas Mordelle

Electrifying the future of on-road HDVs

Road transport accounts for about 75% of transport emissions worldwide and is responsible for around 21% of total emissions. More than a third is directly related to medium and heavy-duty vehicles (MHDV) i.e. buses and trucks, the bulk of which relates to freight.With major economies gradually alig

May 16, 2024 May 16, 2024 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

H&M: margin upturn slow to materialise

H&M: Q1 margin trajectory more appealing than sales trends

On the shelves now: Consumer Weekly #21

On the shelves now: Consumer Weekly #15

Ebusco: The expert e-bus platform

Nikola Corp: The dual e-trucking arm

Electrifying the future of on-road HDVs

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe