|Bid||167.18 x 0|
|Ask||167.22 x 0|
|Day's Range||164.42 - 167.64|
|52 Week Range||120.50 - 173.00|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||22.90|
|Forward Dividend & Yield||4.85 (3.13%)|
|1y Target Est||133.09|
More shoppers are buying secondhand goods, and brands are getting in on the action rather than leaving that business to thrift and consignment stores.
The stock rose as much as 16 percent after the company pulled back on discounts, compared with the fire sale it held a year earlier. H&M has been introducing garments at lower prices to try to avoid massive discounts later. “It’s still a shaky market,” said Chief Executive Officer Karl-Johan Persson on a conference call with analysts.
H&M had to offer less discounts to tempt shoppers, and expected this to continue in the current quarter. H&M has continued to invest in new concepts, such as Arket, a Nordic inspired store that includes fashion and home furnishings. A new H&M in the City of London has a fresh image that looks to have borrowed from Arket’s aesthetic.
COPENHAGEN, Denmark (AP) — Swedish low-cost fashion brand Hennes & Mauritz AB has announced first-quarter profit dropped to 803 million kronor ($86.4 million), down from 1.4 billion kronor a year ago, saying the earlier period was positively affected by one-off tax income as a result of U.S. tax reform.
Makers of sportswear and fleece jackets are trying to address concerns about tiny plastic particles from synthetic clothing finding their way into seafood and drinking water. While the plastics backlash has focused on single-use products like straws, bottles and coffee cups, synthetic clothing is gaining attention because such garments shed plastic every time they are washed. Each year, more than a half-million metric tons of microfibers—the equivalent of 50 billion plastic water bottles—enter the ocean from the washing of synthetic textiles, according to the International Union for Conservation of Nature and Natural Resources, a Switzerland-based group that counts governments, nonprofits and charities among its members.
To help it, the Swedish company just hired a man best known for revealing a data privacy scandal that rocked Facebook Inc. and raised serious questions around how some corners of technology are shaping human existence. At H&M, 29-year-old Christopher Wylie will help the company use big data and artificial intelligence to make sure it actually designs things shoppers want. If successful, the Cambridge Analytica whistle-blower might be able to help fix some of H&M’s most pressing issues, including getting its inventory under control and ultimately making the company more profitable.
Swedish low-cost fashion brand Hennes & Mauritz AB said Thursday its fourth-quarter profit dropped about 10 percent to 3.5 billion kronor ($390 million) as consumers continued to shift to online shopping. The Stockholm-based group retailer said quarterly sales increased by 12 percent to 56.4 million kronor ($6.22 million), while full-year sales rose 5 percent to 210.4 billion kronor ($23.2 billion). Chief Executive Karl-Johan Persson said 2018 had been a "challenging year" but that the company is changing to adapt to new customer habits, including more online shopping.
Hennes & Mauritz AB’s (HM-B.SK) net profit fell 11% in the fourth quarter, missing forecasts as the fashion retailer continued investing heavily in expanding online and in new logistics systems, though it maintained that there are signs its turnaround efforts are beginning to bear fruit. The Swedish company posted a net profit of 3.54 billion Swedish kronor ($391 million) for the quarter ended Nov. 30, compared with SEK3.99 billion a year earlier.
A group set up by European fashion brands to improve factory safety in Bangladesh has sought a stay on a court order that calls for its local operations to end this week, its executive director said on Wednesday. The group comprises more than 200 firms - including global clothing giants such as H&M and Zara-owner Inditex – who are signatories to the Accord on Fire and Building Safety in Bangladesh, formed after the Rana Plaza factory collapse in 2013, which killed more than 1,100 people. The five-year pact was set to expire in May 2018 but its brand signatories agreed last year to extend it to 2021 to complete remaining safety fixes, while the Bangladesh government set up a national regulatory body to take over its work.
Shoppers across the United States snapped up deep discounts on toys, clothing and electronics both online and at stores on Black Friday, giving retailers a strong start to their make-or-break holiday season. “The prices today are very good,” said Jose Manuel Cruz Hernandez, 59, who hit the Del Amo Fashion Center in Torrance, California, with his sister Paulina Cruz, 66, who comes every year from Mexico City to shop. Cruz Hernandez, a foreman at an aerospace firm, said he was comfortable with the U.S. economy and his own finances and plans to spend another $1,000 on holiday gifts - about the same as last year.
Several prominent clothing retailers are revamping their manufacturing and tailoring their brand images for just this kind of change. J. Crew Group, for example, recently debuted its “Eco Jean,” a selection of denim it boasts is made from “sustainably dyed organic Italian cotton.” Earlier this year, Levi Strauss & Co. announced a new initiative that eliminates many chemicals from its jeans manufacturing process and reduces textile waste. The environmental concerns around clothing manufacturing are more acute than ever before.