Tue, Mar. 24, 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)
Jun. 18, 2014, 3:44 AM
- H&M (HMRZF) is planning to add up to 10 new online markets and a shoe range after a solid performance in its second quarter.
- "We have had a good second quarter with a strong increase in both sales and profits and increased market share," says CEO Karl-Johan Persson.
- Net profit in Q2 rose 25% to $876M, from $693M in the same period of 2013. Sales including value-added tax totaled $6.7B.
- Hennes & Mauritz is planning to open 375 new stores worldwide this year.
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