H&M Q3 Net Income, Gross Margin Better Than Expected as Stores Reopen

• (PLX AI) - H&M Q3 gross margin 53.2% vs. estimate 51.5%.
• • Q3 net income SEK 4,692 million vs. estimate SEK 4,100 million
• • Q3 EBIT margin 11.3%
• • H&M around 100 stores remained closed at the end of Q3, and currently there are 50 stores closed
• • H&M cash dividend of SEK 6.50 per share to be paid in November
• • H&M group's increase in profit for the quarter is mainly a result of well-received collections with more full-price sales, lower markdowns and good cost control, CEO says