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Company Earning Updates 4 minutes

H&M (STO: HM-B) 1Q19 Results: Profits Slide but Beat Consensus, Positive Signs on Full-Price Sales

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Coresight Research

Key Points

  • H&M reported 1Q19 profit after tax of SEK 803 million, down 41.5% year over year, and EPS of SEK 0.49, down 41.0% year over year but ahead of the SEK 0.31 consensus recorded by StreetAccount. The year-over-year changes in both metrics were impacted by a boost from the US Tax Cuts and Jobs Act in the year-ago quarter.
  • The company’s gross margin expanded by 10 basis points to 50%, beating the consensus estimate of 49.1% recorded by StreetAccount.
  • In 2019, H&M plans a net addition of 175 stores with most of these stores set to open in growth markets, while it plans to reduce H&M stores in Europe by 50.

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