H&M : Good results in the quarter and significant acceleration in June, to 10%
>Lower COGS drive the outperformance to our estimates; +10% trading update is above our expectation for the remainder of the year - H&M’s Q2 2023 results were above our estimates: gross profit SEK 30,338m, i.e. SEK 488m or 2% above, EBITDA SEK 10,246m, i.e. SEK 1,011m or 11% above, EBIT SEK 4,741m, i.e. SEK 816m or 21% above and net profit SEK 3,287m vs SEK 2,784m estimated, i.e. SEK 503m or 18% above. The main reason for this outperformance vs our estimates was the f...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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