Our long/buy recommendation on H&M generated more than 12% investment returns for clients after the Swedish fashion group reported stronger Summer collection sales.
On 27th June 2019, H&M guided that sales of it's Summer collections had started well and it would slow the rate of store openings as it invests more online, boosting its shares by more than 10%.
H&M Shares Soar More than 12% as Positive Guidance Beats Estimates
The world's second-largest fashion retail beat analyst expectations saying that sales growth had accelerated to 12% in local currency from the 5% growth they registered in the second quarter.
The FT Reports H&M's Earnings Beat & Share Price Gains on 27th June
Woozle's team of primary researchers uncovered evidence of stronger than expected sales growth across their newly released Summer collections, lower intensity and prevalence of mark-down activity, and improvements to their surplus inventory build-ups in our research report released on 24th June.
Woozle's Long/Buy Recommendation on H&M Released 24th June
Clients were able to scale initiate or scale their long positions with enough time to capitalise on the more than 12% jump in H&M's share price immediately following the results announcement.