H&M : Margin to provide some respite on lower COGS, but still cautious on the stock
>We are increasing our estimates on the back of some positive signals - We are increasing our estimates, mainly due to lower COGS and, to a lesser extent, to lower opex and slightly higher sales. This is to reflect the positive messages given by the company on gross margin expectations and the positive results seen at peers like Inditex also on gross margin, not only due to their own performance but also due to market circumstances. Both lead us to think that the pos...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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