|Bid||136.16 x 0|
|Ask||136.20 x 0|
|Day's Range||134.20 - 137.46|
|52 Week Range||117.10 - 173.00|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||17.27|
|Forward Dividend & Yield||4.85 (3.62%)|
|1y Target Est||133.09|
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.
With short interest still at elevated levels and buyout speculation swirling, it didn’t take much to send Hennes & Mauritz AB’s shares soaring on Thursday. Positive comments on gross margins and on reducing the retailer’s bloated inventory caused sellers who have pushed the stock down almost a third in the past year to take cover. While third-quarter earnings were weaker than expected, analysts pointed to H&M’s outlook for a slightly positive market situation for external factors in the fourth quarter.
Hennes & Mauritz AB shares rose the most in 17 years after the ailing Swedish fashion retailer reported sales growth that surprised analysts. Bloomberg Intelligence's Charles Allen reports on "Bloomberg ...
Hennes & Mauritz AB shares rose the most in 17 years after the ailing Swedish fashion retailer reported sales growth that took analysts by surprise, boosting optimism the H&M chain may have turned the corner. H&M reported third-quarter revenue growth that exceeded the highest analyst estimate as it offered discounts to clear out inventory and received a boost from the weak krona. The gain is the first glimmer of a turnaround at H&M, which has been struggling to reduce a record position of unsold garments.
The past six months have been a period of relative calm for the average price target for Hennes & Mauritz AB. It may not stay that way for long if the Swedish clothing retailer fails to show a turnaround this fall. “H&M will probably miss its targets significantly also this year and will find it difficult to defend their forecasts going forward.