|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.1500 - 3.1900|
|52 Week Range||2.6000 - 3.7300|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||17.90|
|Forward Dividend & Yield||0.22 (6.22%)|
|1y Target Est||N/A|
H&M Hennes & Mauritz AB announced the launch of its loyalty program, H&M Member, in the U.S.The two-tier program will include Member- and Plus-level status, birthday and member day discounts, free shipping on orders over $40, and perks with partner DryBar. H&M shares have gained nearly 27% for the year to date while the S&P 500 index is up 15.2% for the period.
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More shoppers are buying secondhand goods, and brands are getting in on the action rather than leaving that business to thrift and consignment stores.
H&M (OTCMKTS:HNNMY) unveiled its latest quarterly earnings results early on Friday, raking in a profit that was stronger than what Wall Street projected in its consensus estimate, while sales were up more than 10% year-over-year, playing a role in the company's stock soaring today.The Stockholm, Sweden-based retailer announced that for its first quarter of its fiscal 2019, it amassed a net profit of 803 million Swedish kronor, which came in at roughly $86.4 million. The amount was below the SEK1.37 billion from the year-ago quarter by about 41%.However, the amount was better than the earnings that Wall Street predicted H&M would amass at SEK525 million, according to a survey of analysts conducted by FactSet. The fashion retailer bet heavily on expanding its e-commerce business, including investments in its logistics and loyalty program.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company's sales for its first quarter, excluding value-added tax, reached SEK51.02 billion, which is about 10.5% ahead of the SEK46.18 billion that analysts predicted. Meanwhile, net sales between Mar. 1 and Mar. 27 gained roughly 7% on the year in local currencies."Our ongoing transformation work has contributed to stronger collections with increased full-price sales, lower markdowns and increased market shares," said H&M CEO Karl-Johan Persson. "The rapid transformation of fashion retail continues and we can see that our own transformation work is taking us in the right direction, even if many challenges remain and there is still hard work to do."HNNMY stock is soaring about 10% on Friday following the company's strong quarterly performance. More From InvestorPlace * 7 Marijuana Stocks to Play the CBD Trend * 7 Reasons to Buy Housing Stocks in 2019 * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos Compare Brokers The post H&M Earnings: HNNMY Stock Skyrockets on Profit Beat appeared first on InvestorPlace.
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.
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.