|Bid||136.04 x 0|
|Ask||136.10 x 0|
|Day's Range||132.32 - 136.84|
|52 Week Range||117.10 - 229.60|
|PE Ratio (TTM)||14.99|
|Forward Dividend & Yield||4.85 (3.62%)|
|1y Target Est||122.15|
H&M shares hit the lowest levels since 2005 Tuesday after the world's second-largest clothing retailer said a a bigger inventory overhang would lead to price cuts in the company's spring quarter.
STOCKHOLM (AP) — Swedish low-cost fashion brand Hennes & Mauritz AB says its first-quarter profit plummeted 44 percent after it was forced to cut prices and make markdowns due to higher than expected garment inventories.
The Swedish clothing retailer blamed weak sales in the fourth quarter of 2017, as well as the “unusually” cold winter weather, for the need to clear out stock.
H&M reported a 44% fall in first quarter net profit after being forced to hold “substantial” clearance sales to address stock imbalances. .
Hennes & Mauritz AB reported its lowest first-quarter profit in 16 years as extreme and rapid weather swings made it even harder for the Swedish fashion retailer to sell a buildup of unsold garments.
Swedish fashion retailer Hennes & Mauritz AB said it’s increasing markdowns this quarter after accumulating a record pile of unsold garments worth more than $4 billion.
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Investors in Hennes & Mauritz AB left its first ever capital markets day wondering whether the retailer is aware its clothes seem to be going out of fashion.
H&M said that this year will be challenging as it continues to build its online presence. Nevertheless, as sales from both the internet and new stores grow, it expects improved results in 2018.
Hennes & Mauritz AB rented a historic Stockholm concert hall for Chief Executive Officer Karl-Johan Persson to explain the struggling apparel chain’s turnaround plans to shareholders. The message fell ...
Hennes & Mauritz AB was getting ready to reassure investors with a turnaround plan at its first ever capital markets day on Wednesday.