Bryan Garnier - HM (HMB) HM: Q1 margin trajectory more appealing than sales trends

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Bryan Garnier

Cedric Rossi

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

28/03/2024 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: Q1 margin trajectory more appealing than sales trends

On the shelves now: Consumer Weekly #21

On the shelves now: Consumer Weekly #15

Median Technologies: reports Q1 2024 results

Jeronimo Martins: Q1 topping expectations; price war ongoing in Poland

Nel: Capacity reservation agreement with Hy Stor Energy

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