Q3 2025 H & M Hennes & Mauritz AB Earnings Call Transcript

Sep 25, 2025 / 07:00 AM GMT

Release Date Price: €15.32 (+11.02%)

Transcript

Key Points

Positve

Sales grew by 2% in local currencies despite having 4% fewer stores, indicating strong demand.
The upgraded online store rollout has been well received, contributing to profitable growth.
Inventory decreased by 9% due to improved demand planning and successful summer sales.
Operating profit increased to 4.9 billion Swedish kronor, with an operating margin of 8.6%, up from 5.9% last year.
Hennes & Mauritz AB (HMRZF) ranks first in public disclosure on decarbonization and sustainability, according to Fashion Revolution's 2025 report.

Negative

Sales for September are expected to be on par with last year, indicating potential stagnation.
The world remains uncertain with political challenges and cautious consumer behavior impacting growth.
Tariffs are expected to negatively impact gross margins in the upcoming quarters.
The company faces challenges in optimizing store portfolios, with a slight negative impact on sales expected in Q4.
There is a need for ongoing promotions and markdowns to activate cautious consumers, which could impact profitability.

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

HMb.ST - H & M Hennes & Mauritz AB
Q3 2025 H & M Hennes & Mauritz AB Earnings Call
Sep 25, 2025 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome everyone to H&M Group's conference call 9 month report for 2025. For the first part of this call, all participants will be in a listen-only mode during the speaker presentation, and afterwards there'll be a question and answer session.

If you wish to ask a question, please register by the link in the confirmation email and then dial in and press star followed by one on your telephone keypad.

Please be advised that this conference is being recorded.

Today, I am pleased to present Joseph Abe, head of investor relations. I will now hand over to our speakers. Please begin.

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