Hennes & Mauritz AB Class B

HM B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 714.00	Sgwn	Cpfswjdnz

H&M Earnings: Operating Margin Target of 10% for 2024 Dropped; Shares Fairly Valued

Jelena Sokolova

Sep 26, 2024

We are maintaining our fair value estimate for no-moat H&M as the company reported flat revenue at constant exchange rates and operating margin came under pressure somewhat due to higher sales, general, and administrative expenses. Gross margin improved slightly.

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