Here is Salkunrakentaja’s article about H&M. 
Subheadings:
- Investment in e-commerce
- Strong earnings growth in 2023
The fashion guru in the picture has shared preview comments as H&M releases its Q1 report (Dec-Feb) on Wednesday. 
1 Like
Quick comment on H&M’s morning results
4 Likes
Tässä olisi vielä kunnon yhtiörapsa. 
H&M’s first-quarter results were better than expected, mainly due to a higher gross margin. The revenue trend also seems to be turning positive again, which we find encouraging.
1 Like
Hi @Rauli_Juva ,
I tried to ask about this on the Swedish side, but the message apparently got lost in the Easter holiday rush.
I was inquiring whether you have any insight or an educated guess as to what those “external factors” behind the improved gross margin might be? The company didn’t seem to break them down in any way.
1 Like
Hi, good that you gave a nudge here. I’ve now replied on the Swedish side.
4 Likes
3 Likes
H&M mentioned in Hesari, not in such a good light.
According to an extensive investigation published by an NGO on Thursday, the production of cotton used by subcontractors of the Swedish H&M and the Spanish Inditex, known as the owner of Zara, is linked to widespread deforestation, land grabbing, and human rights violations in Brazil.
Earthsight studied satellite images, court decisions, and shipping documents for over a year for its report. In addition, the organization’s researchers gathered information while undercover at industry trade fairs.
4 Likes
Recommendation upgrade: BUY
UBS raises H&M to buy (neutral), target price 212 kronor (148)
2 Likes
Raulin ennakkokommentit H&M:n Q2:sta, joka julkaistaan torstaina.
H&M will report its Q2’24 (March-May) results on Thursday at 8:00 am CET. We expect revenue to be flattish in local currencies, but EBIT to improve clearly, supported by both gross margin improvement and lower opex. The company has said its targeting 10% EBIT margin in 2024, which looks optimistic to us as we expect only 7.9%, while the consensus is at 8.9%.
3 Likes
I posted a quick comment on the Swedish side about H&M’s morning results
5 Likes
Rauli on tehnyt uuden yhtiörapsan H&M:stä.
H&M’s Q2 was strong as sales grew and EBIT improved y/y and topped our forecasts, although they were in line with the consensus. H&M, however, sees more headwinds in H2 than previously and hence its EBIT margin target of 10% looks more challenging for this year, according to the company. We made only limited estimate changes on the back of Q2 and maintain our Reduce recommendation with a SEK 170 target price.
2 Likes
Analyysia Raulin tapaan H&M:stä
We believe H&M’s demand has remained sluggish in Q3, while the company faces several headwinds on the gross margin. We expect these to result in H2 being weaker than we previously expected and have hence lowered our estimates for 2024-25. We maintain our Reduce recommendation and target price of SEK 170.
1 Like
Fashion-conscious Rauli and Mikael chatted about H&M.
A couple-minute video, available on the Inderes Nordic channel.
Content:
00:00 Start
00:07 Weak demand in June, challenging market
00:51 We have lowered our estimates
01:41 Growth going forward
2 Likes
Inderes’ head of fashion, i.e., Rauli, provided his preview comments as [H&M] releases its report for the June-August results on Thursday.
We expect revenue growth to be slightly positive in local currencies, but negative in reported terms. We expect EBIT to decline y/y with a roughly stable gross margin and slightly higher opex with a negative sales trend hitting the earnings. We highlighted the headwinds in Q3 already in our previous report.
2 Likes
H&M reported Q3 today, a few quick takeaways from this morning’s result over on the Swedish forum:
2 Likes
@Rauli_Juva on raapustellut uuden lyysin H&M:stä Q3:sta (1 JUNE 2024 – 31 AUGUST 2024).
H&M delivered weaker-than-expected earnings for Q3. While September sales growth was a positive data point, we see margin headwinds continuing in Q4 and do not expect the company to reach its 10% EBIT margin target in 2025 either. We maintain our Reduce recommendation and target price of SEK 170.
1 Like
The Perssons are on the buy side again.
H&M: THE PERSSON FAMILY HAS BOUGHT 2.35 MILLION SHARES
Today at 10:55 ∙ Nyhetsbyrån Direkt
STOCKHOLM (Nyhetsbyrån Direkt) The fashion company H&M Group’s main owner, the Persson family, has, via the holding company Ramsbury Invest, purchased 2.35 million shares in H&M for approximately 400 million kronor.
This is stated in the Swedish Financial Supervisory Authority’s (Finansinspektionen) insider register.
The shares were purchased during the period of October 2-4 at prices between 169.35-171.26 kronor.
After the purchases, Ramsbury Invest owns the equivalent of approximately 61.1 percent of the capital and 81.4 percent of the votes in H&M, according to the ownership data service Holdings.
1 Like
@Pia_Maljanen ja @Rauli_Juva keskustelivat H&M:stä
H&M released its Q3 report at the end of September. In this interview analyst Rauli Juva summarizes the main takeaway from the report. We also discuss Q4 expectations, the updated guidance and store closures.
00:00 Intro 00:12 Main takeaway from 00:54 Q4 expectations 01:53 Updated guidance 03:31 Store closures 05:19 Valuation & recommendation
Aiheet:
Tämä ja monia muita videoita löytyy Inderes Nordic -kanavalta, videoita paljon englanniksi ja huomasin, että moniin saa hyvät tekstityksetkin.
Rauli on tehnyt uuden rapsan H&M:stä.
We believe consumer demand has remained subdued in H&M’s Q4 (Sep-Nov), although the strong September should support growth. We have lowered our margin assumptions for 2025 and beyond, prompting us to cut the target price to SEK 160 (previously 170). We continue to see the share as fairly valued and maintain a Reduce recommendation.
1 Like