Streetbeat News

HNNMY

Hennes & Mauritz AB

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

CEO

Karl-Johan Persson

Industry

Men's Clothing Stores

Open

2.66

Mkt cap

22B

Volume

15K

High

2.66

P/E Ratio

19.00

52-wk high

3.69

Low

2.66

Div yield

0.05

52-wk low

2.46

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

Walmart's CFO expects Flipkart and PhonePe to reach $100 billion in value, driving the company's foreign market sales. XPeng launches self-driving tech in China, rivaling Tesla. Nvidia receives significant orders from ByteDance and Alibaba for its GPUs. Hong Kong regulator pressures HSBC and Standard Chartered to take on crypto clients.

Portfolio Pulse from Vandana Singh

June 15, 2023 | 1:47 pm

H&M reported a 6% YoY growth in Q2 FY23 sales to SEK57.6 billion, with sales in local currencies remaining flat. Unfavorable weather conditions impacted sales in several large markets, while June has started well. Analysts expect warmer weather to help Q3 sales.

Portfolio Pulse from Shivani Kumaresan

June 15, 2023 | 12:09 pm

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