Streetbeat News

HMRZF

Hennes & Mauritz AB

https://www2.hm.com/sv_se/index.html

CEO

Karl-Johan Persson

Industry

Men's Clothing Stores

Open

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Mkt cap

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Volume

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High

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P/E Ratio

N/A

52-wk high

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Low

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Div yield

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52-wk low

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Hennes & Mauritz AB (OTC:HNNMY) (OTC:HMRZF) is reportedly investigating 20 alleged labor exploitation incidents at its Myanmar-based garment-supplying factories. The allegations include wage reduction and wage theft. The company is facing increased challenges in conducting operations according to its standards and requirements.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 2:28 pm

Several companies have made headlines today. Nvidia is expected to generate up to $300 billion in AI revenues by 2027, according to Mizuho analyst Vijay Rakesh. Over 1,500 UK-based developers have filed a class action lawsuit against Apple over 'anti-competitive' App Store fees. Microsoft has invested $2 billion in a Saudi cloud facility, raising data privacy concerns. TikTok has launched a text-based post feature to compete with Twitter. Adidas expects a smaller operating loss in 2023 after parting ways with Kanye West's Yeezy Collection. H&M has sued Shein for copyright infringement. TSMC plans to invest $2.9 billion in an advanced chip packaging plant in Taiwan. FedEx pilots have rejected a contract deal, prompting renewed negotiations. Nestle and Danone are under France's inflation scanner due to price rises. American Airlines faces a voting delay for a pilot contract offer. Unilever, General Electric, General Motors, Xerox, Spotify, Biogen, Verizon, Danaher, and Dover have all reported their Q2 earnings.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 2:26 pm

Hennes & Mauritz AB (H&M) has reportedly sued fast-fashion retailer Shein for copyright infringement in Hong Kong, accusing the company of copying several of its designs. The case, which includes dozens of stolen pictures of clothing as evidence, is expected to continue with a hearing on July 31. This follows H&M's recent report of a 6% YoY increase in Q2 FY23 sales.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 12:20 pm

Several companies have made significant announcements. Advanced Micro-Fabrication Equipment Inc and Naura Technology Group Co expect a doubling in profits due to the U.S. tech embargo. BlackRock Inc plans to expand its Voting Choice program to its largest ETF. Alibaba Group Holding Limited's stock is trading lower as China's Q2 GDP missed estimates. Ford Motor Co announced price cuts for its F-150 Lightning truck. Virgin Galactic Holdings Inc announced the crew of its seventh spaceflight. Rocket Lab USA Inc is preparing to launch a mix of satellites for NASA and commercial satellite constellation operators. Acumen Pharmaceuticals Inc's experimental Alzheimer's drug passed early safety tests. Sony Group Corp and Microsoft Corporation have reportedly reached a 10-year agreement to keep 'Call of Duty' games on PlayStation consoles. Proximus SA is acquiring a 58% stake in Route Mobile. Entain PLC plans to acquire Angstrom Sports. Hennes & Mauritz AB is launching its stores in Brazil. American Airlines Group Inc and JetBlue Airways Corp have initiated the process of dissolving the Northeast Alliance. United Airlines Holdings Inc and its pilots have reached a labor agreement with a substantial pay raise. MoonLake Immunotherapeutics is reportedly looking for a potential sale. Toshiba Corp plans to establish a supply chain for offshore wind power equipment in Japan with General Electric Company.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 2:13 pm

Hennes & Mauritz AB (H&M) plans to expand its presence in Latin America by launching online and offline stores in Brazil by 2025. The company will initially enter major cities in Southeast Brazil in partnership with Dorben Group. H&M has been present in Latin America since 2012 and currently operates in several countries including Mexico, Chile, Costa Rica, Peru, Colombia, Uruguay, Ecuador, Guatemala, and Panama. The company reported a 6% YoY increase in Q2 FY23 sales to SEK57.6 billion.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 10:24 am

Hennes & Mauritz AB (H&M) reported a 6% YoY increase in Q2 FY23 sales to SEK 57.6 billion, despite high raw material and freight costs and a strong U.S. dollar. Operating profit for the quarter was SEK 4.741 billion with an operating margin of 8.2%. The company's board has been authorized to start a share buyback program for a maximum amount of SEK 3 billion. H&M's shares (HNNMY) closed lower by 1.38% at $2.85 on Wednesday.

Portfolio Pulse from Shivani Kumaresan

June 29, 2023 | 1:19 pm

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