H&M (HMB SS) Q1 2026 (SEK): Op. Profit 1.51bln (exp. 1.39bln), Revenue 49.6bln (exp. 50.5bln), EPS 0.45 (exp. 0.44), Net Income 704mln (exp. 706.6mln); March Sales +1% Y/Y

• Board proposes dividend of SEK 7.10/shr (prev. SEK 6.80/shr).

Commentary:

• The quarter began in December with weaker demand following strong Black Friday trading in November.
• Towards the end of the quarter our well-received spring collections contributed to a positive sales trend, which also continued into March.