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BEAR HM X5 VON

  • Symbol BEAR HM X5 VON
  • ISIN DE000VS0AH12
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5X Short Index linked to Hennes & Mauritz ABSEK 
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H&M

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H&M: Strong turnover with disappointing profit due to strong USD

H&M yesterday reported strong second-quarter turnover but profit missed analysts estimates. Net income rose 11% compared to 2014 (6,45 Bn SEK) whereas total revenue increased 21%. Main driver for the pressure on the profit side was the strong USD, which raised garment costs. This resulted in a gross margin reduction to 59,4% from 60,8% last year. The outlook for the remaining months was also linked to a further expected strong USD that would put pressure on purchasing costs and would further decrease gross margin. Furthermore, H&M reported an ongoing online expansion as well as the business target to open 400 new stores. Another upcoming highlight which could support organic top-line growth is the introduction of H&M Beauty. The new line will be rolled out in 900 stores and 40 markets. In contrast H&Ms biggest competitor Inditex, the world’s largest clothing retailer, reported beginning of June this year the fastest profit growth in more than two years (+28%).