|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||137.32 - 140.00|
|52 Week Range||117.10 - 227.70|
|PE Ratio (TTM)||15.15|
|Forward Dividend & Yield||4.85 (3.51%)|
|1y Target Est||122.36|
Hennes & Mauritz AB is reeling from discounts that are eroding sales as the struggling Swedish clothing retailer tries to reduce a record level of inventory. Revenue excluding tax rose 1.2 percent to 51.9 billion kronor ($5.9 billion), missing the average analyst estimate. “It’s worrying,” said Magnus Raman, an analyst at Handelsbanken.
Canada Goose Holdings Inc will open its first stores in Beijing and Hong Kong, reaching directly to customers who have been buying its luxury coats online and at department stores. The company will partner with ImagineX Group, the Hong Kong-based retail and brand management company, to run the stores, which are expected to open this fall, it said in a statement on Thursday. It will also partner with Alibaba Group Holding Ltd's giant online marketplace Tmall to expand its e-commerce operations, following a pilot project it started early this year, and establish a regional head office in Shanghai, it said.
STOCKHOLM—The world’s largest clothing brand is turning to artificial intelligence to win back shoppers, as it works to reverse one of the worst sales slumps in its history. Hennes & Mauritz AB’s H&M retail chain is ramping up its use of data to customize what it sells in individual stores, breaking with its longstanding practice of stocking stores around the globe with similar merchandise. The 71-year-old fast-fashion chain is aiming to arrest a slump in same-store sales that has lasted 10 straight quarters as it faces problems bedeviling the industry: A spike in online shopping has led to fewer customers visiting stores, and digital startups are putting up fierce competition.
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. .
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.
Top Australian department store chain Myer Holdings Ltd slumped to its biggest half-yearly loss since listing as it wrote off the value of its underperforming assets, conceding flawed execution of its strategy and an inadequate response to online competition. The result may provide ammunition for Myer's biggest shareholder, billionaire retail investor Solomon Lew, who has been using his 10.7 percent stake to lobby smaller shareholders for support as he seeks to remove Myer's entire board.
Major retailers and malls are permanently closing their doors faced with competition from online shopping options and Amazon. In a bid to win back shoppers, the world's largest Fashion Retailer, H&M is hoping Artificial Intelligence will turn around one of its worst sales slumps in history.