Brief: H&M: Weak Consumer Sentiment Could Drive Increased Need For 'Temporary Activations' And Deals In Q1

H and M Hennes and Mauritz AB

29/01/2026 09:08

Jan 29 (Reuters) - H & M Hennes & Mauritz AB HMb.ST CEO and CFO in a call with analysts and media:

H&M CEO: 2025 WAS CHARACTERISED BY POLITICAL AND ECONOMIC UNCERTAINTY AFFECTING CONSUMERS AND MARKETS, AND WE SEE SIMILAR CONDITIONS CONTINUING INTO 2026

H&M CFO: WE SEE WEAK CONSUMER SENTIMENT THAT COULD DRIVE INCREASED NEED FOR 'TEMPORARY ACTIVATIONS' AND DEALS IN Q1

H&M CFO: WE SEE A SOMEWHAT INCREASED COST PRESSURE FOR 2026

H&M CEO: BLACK FRIDAY HELPED DRIVE STRONG END OF Q4

H&M CEO: DEMAND HAS STAYED STRONG IN THE U.S.

H&M CEO: WE EXPECT TO SEE EFFECT OF LEARNINGS WE MADE ON WOMEN'S WEAR SPREADING INTO OTHER CUSTOMER GROUPS IN 2026

H&M CEO: TECH INVESTMENTS NECESSARY TO BUILD FOUNDATION OF FUTURE H&M

H&M CEO: WE ARE WORKING TO LEVERAGE DATA, AI TO BE MORE PRECISE IN FORCASTING DEMAND AND HOW TO MATCH SUPPLY TO DEMAND

H&M CEO: LARGE PART OF OUR CUSTOMER BASE IS LOOKING TO MAKE A GREAT DEAL

H&M CEO: WE SEE CONSUMER BEHAVIOUR SHIFTING TOWARD SECOND-HAND AS A NATURAL COMPLEMENT TO FIRST-HAND MARKET

H&M CEO: WE ARE NOT ADJUSTING PRICE IN MARKETS THAT ARE EURO, DOLLAR MARKETS BECAUSE OF THE SWEDISH CROWN STRENGTHENING

H&M CEO: WE HAVE BETTER SUPPLY AND STOCK COMPOSITION IN THE U.S. FOR THE SPRING, BUT THE MARKET REMAINS VOLATILE

H&M CEO: WE ATTRIBUTE A HIGHER CONSISTENCY IN SALES GROWTH TO APPRECIATION FOR OUR CUSTOMER OFFER

H&M CEO: WE ARE LOOKING AT HOW WE CAN IMPLEMENT AGENTIC AI INTO OUR DIGITAL EXPERIENCE

H&M CEO: WE ARE NOT WHERE WE WANT TO BE YET ON CUSTOMER BRAND PERCEPTION, BUT CONFIDENT STEPS ARE TAKING US IN THE RIGHT DIRECTION

Further company coverage: [HMb.ST]

(Reporting by Greta Rosén Fondahn and  Anna Ringstrom )

((anna.ringstrom@thomsonreuters.com))