Hennes & Mauritz ABBOTCPK - Current
Mon, Sep. 12, 8:52 AM
- At least 31 people died in a fire at a factory in Bangladesh near the capital of Dhaka.
- An explosion was reported at the packaging factory before the blaze consumed the building.
- Factory safety has been a major point of concern for companies such as Wal-Mart (NYSE:WMT), Gaps (NYSE:GPS), and Hennes and Mauritz (OTCPK:HNNMY, OTCPK:HMRZF) that source from the region.
Wed, Jun. 22, 7:45 AM
- Hennes & Mauritz (OTCPK:HMRZF) reports net profit fell to 5.357B Swedish kronor ($650M) in Q2 vs. 6.453B last year and 5.46B consensus. An increased level of markdowns and a negative U.S. dollar effect were cited as drags on profit.
- The company added e-commerce in Slovenia, Croatia, Estonia, Latvia, Lithuania, Luxembourg, Ireland, Japan, and Greece during the quarter.
- Hennes & Mauritz press release
Mon, Feb. 15, 10:05 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) announces sales rose 7% Y/Y during January in local currencies. The solid tally follows a 10% sales gain in December. Comparable-store sales weren't broken down by the Swedish retail giant.
- A negative calendar effect impacted sales negatively by two full percentage points.
- H&M's store count rose to 3,958 at the end of the month, compared to the 3,541 stores it operated a year ago.
Thu, Jan. 28, 4:15 AM
- Deutsche Bank (NYSE:DB) -1% premarket after posting a full-year loss of €6.8B, as writedowns, litigation charges and restructuring costs took their toll.
- Electrolux (OTCPK:ELUXY) slumped to a Q4 loss after costs from its failed GE deal weighed on results.
- A strong dollar hit purchasing costs at H&M (OTCPK:HNNMY), resulting in a set of relatively lackluster earnings.
- Roche (OTCQX:RHHBY) reported 5% fall in full-year net income as the strong Swiss franc countered gains from the company’s diagnostics and cancer treatment units.
Oct. 2, 2015, 10:31 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) has filed a lawsuit against Forever 21 over coopyright infringement, reports Just-Style.com.
- The case is of interest because it involves allegations of the use of a copycat manufacturer in China. Large fashion manufacturers have been looking for ways to stem the number of products out of China that infringe on product rights.
- Forever 21 operates over 700 stores, with a majority located in the U.S.
Sep. 24, 2015, 6:59 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) reports sales increased 19% to 46.024B SEK ($5.49B) in Q3.
- Gross margin fell 240 bps to 55.9% during the quarter. Operating margin rate was down 280 bps to 14.8% as a strong USD had a negative impact on purchasing costs.
- The company says it plans to open 240 stores in Q2 and open online stores in nine new markets next year.
Sep. 8, 2015, 9:05 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) says it will introduce a "fair wage method" at 68 different apparel factories in Asia.
- The company is responding to growing criticism over wages and factory conditions which has led in some cases to work disruptions.
- H&M saw sales and profit increase in Q2.
- Previously: Double-digit sales streak extends at Hennes & Mauritz (Aug. 17 2015)
Aug. 17, 2015, 7:04 AM
Jun. 25, 2015, 8:34 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) reports revenue rose 10% (ex-VAT) to 45.87B Swedish kronor ($5.575B) in FQ2.
- EPS was 3.90 per kronor vs. 3.51 a year ago.
- Sales growth accelerated in June to 14%.
- Gross margin rate fell 140 bps to 59.4%. Operating profit rate -180 bps to 18.2%.
- Purchasing costs were higher in Q2 due in part to the strong U.S. dollar.
- The company says the launch of H&M Beauty to 900 stores this fall will be a boost to results.
- Hennes & Mauritz 6-month report (.pdf).
May 18, 2015, 1:25 PM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) will launch a new line of beauty products this fall at over 900 stores and through online channels.
- The updated range of beauty products will replace existing products and incorporate fashion-forward principles.
- H&M has recorded seven straight months of double-digit sales growth in constant currency terms.
May 15, 2015, 7:36 AM
May 14, 2015, 11:21 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) has launched a national campaign to attract store workers in the U.S.
- The retail chain opens a giant store in Manhattan next week and plans to open another 60 outlets across the U.S. this year.
- Execs with H&M say the firm pays wages at a higher rate than the average in the retail sector.
Apr. 16, 2015, 1:40 PM
Apr. 15, 2015, 9:45 AM| Apr. 15, 2015, 9:45 AM
Mar. 24, 2015, 8:22 AM
- Hennes & Mauritz (OTCPK:HMRZF, OTCPK:HNNMY) reports net profit of 3.61B kronor ($423M) for FQ1 to top the consensus expectation of analysts of 3.37B kronor.
- Total revenue was up 25% Y/Y to 40.28B kronor ($15.51B).
- Gross margin rate +30 bps to 55.2%.
- As expected, a strong U.S. dollar had an impact on results.
- Sales growth by region (local currency): U.S. +28%, China +28%, Germany +5%, France +11%, Italy +21%, Switzerland +4%.
- H&M says it sees opening 400 store this year, including expansion in the U.S. and China.
- Full earnings report (.pdf)
Jan. 28, 2015, 6:57 AM
- Henns & Mauritz (OTCPK:HMRZF) reports sales of 42.6B Swedish kroner ($5.9B) in Q4.
- The fast-fashion retailer earned a profit of 6.2B Swedish kroner ($858M) during the period, up 12% from a year ago.
- Gross profit rate landed at 60.4% for the quarter.
- The company plans to enter nine new online European markets in 2015.