Q1 2026 H & M Hennes & Mauritz AB Earnings Call Transcript

Mar 26, 2026 / 08:00 AM GMT

Release Date Price: €15.42 (-3.66%)

Transcript

Key Points

Positve

H & M Hennes & Mauritz AB (HMRZF) reported an improvement in profitability with the rolling 12-month operating margin increasing to 8.4% from 7.0% last year.
Gross margin increased to 50.7% and operating margin improved to 3.0% from 2.2% last year, supported by supply chain improvements and reduced market ows.
The company has seen a positive reception of its spring collections, contributing to improved sales development in February and March.
H & M Hennes & Mauritz AB (HMRZF) continues to optimize its store portfolio and expand in new markets, such as Latin America.
The company is making progress in sustainability, with a 34.6% decrease in absolute scope 3 emissions in 2025 and an increased use of lower impact materials.

Negative

Sales decreased by 1% in local currencies during the quarter, mainly due to weaker demand in December and fewer stores.
Currency translation effects negatively impacted sales in CIAC by 9 percentage points.
The company anticipates increased cost pressure due to geopolitical instability in the Middle East.
There is a need for increased promotional intensity due to cautious consumer behavior and inflationary pressures.
The company reported a lower than expected top-line performance across all customer groups, including womenswear.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HMb.ST - H & M Hennes & Mauritz AB
Q1 2026 H & M Hennes & Mauritz AB Earnings Call
Mar 26, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the H&M 3 month report 2026 webcast and conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question-and-answer session. To ask a question during the session, you will need to press 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised to withdraw your question, please press 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Joseph Albury, head of investor relations. Please go ahead.

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