H&M Reports 4Q Results in Line With Expectations; FVE Maintained
We are maintaining our SEK 147 fair value estimate for Hennes & Mauritz as the company reported fourth-quarter revenue in line with our forecasts. The shares are trading at a small premium to our fair value estimate. Sales including value-added tax increased 6% in the quarter in local currencies and 12% in kronor, which compares with 4% local currency growth in the third quarter. Although the comparison base from the previous year is unchallenging (last year was marked by poor performance of...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.
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