Company Earnings Update 4 minutesRegister for Free AccessH&M (STO: HM-B) 1Q19 Results: Profits Slide but Beat Consensus, Positive Signs on Full-Price Sales Coresight Research April 1, 2019 Executive Summary 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. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Private Label vs. Name Brands: Uncovering Growth Opportunities in the US Food and Beverage MarketCoresight Bites: How US Consumers Spent in 2022—Pandemic-Fueled Imbalance Is Yet To Be Corrected2023 US Tax Tracker #3: IRS Issues $199 Billion in Refunds, Average Refund Declines by 9%Market Navigator: UK Retail, Including E-Commerce—Consumer Constraints To Fuel Multi-Year Discounter Growth
