H&M (STO: HM-B) 3Q19 Results: Revenues and EPS Beat Consensus; Transformation Work on Track

Executive Summary

• H&M reported 3Q19 net sales of SEK 62.57 billion, up 12.1% year over year and slightly higher than the consensus estimate of SEK 62.44 billion recorded by StreetAccount.
• The company reported EPS of SEK 2.33, up 24.6% year over year, and ahead of the consensus estimate of SEK 2.28 recorded by the StreetAccount.
• In FY19, the company plans to open a total of 290 new stores, including franchises, and the majority of these will open in 4Q19.