H&M : Q3 below, FY margin target cut, positive September trading, SBB announced
>Sales flat, EBIT 25% below consensus, reducing margin target as expected - Today, H&M released results for Q3 2024 to end-August. Q3 sales were flat excluding FX at SEK 59,011m (consensus: SEK 60,386m, ODDO BHFe: SEK 61,083m), or 2% below the consensus. For June, the company already reported a 6% decline in sales in local currencies. As such, July and August were better months. The gross margin was up 20bp at 51.1% (consensus: 51.2%, ODDO BHFe: 51.1%), i.e. in line. ...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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