Hennes & Mauritz AB Class B
HM B: XSTO (SWE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SEK 929.00 | Yktmf | Bvsnznh |
H&M's Profitability Improvement Is Solid but Sales Trends Remain Patchy
Business Strategy and Outlook
Although we still believe that Hennes & Mauritz, or H&M, (the world’s second-largest fashion company in terms of revenue) benefits from scale advantages and brand recognition, we think these are no longer sufficient to guarantee medium- to long-term economic profits in an increasingly competitive environment, hence our no-moat rating for the company.