All wins for market movers: Hermes, H&M, Ross and Nordstrom

On Thursday H&M Hennes&Mauritz AB held its Annual General

Meeting where the proposed dividend of SEK 9.50 per share was approved in accordance with the Board of Directors’ proposal. The dividend is expected to be paid out by Euroclear Sweden AB on 11 May 2012.

Elsewhere, Nordstrom reported a 7.1 percent increase in same-store sales for the four-week period ended April 28, 2012, compared with the four-week period ended April 30, 2011. Preliminary total retail sales of $802 million for April 2012 increased 10.5 percent compared with total retail sales of $726 million for the same period in fiscal 2011. First quarter same-store sales increased 8.5 percent compared with the same period in fiscal 2011. Preliminary first quarter total retail sales of $2.53 billion increased 13.7 percent compared with total retail sales of $2.23 billion for the same period in fiscal 2011.

Also Ross Stores reported a good deal of increase in sales: 11% to $725 million for the four weeks ended April 28, 2012, up from $651 million recorded a year ago. Comparable store sales for the month grew 7% on top of a very strong 10% increase last year. For the quarter ended April 28, 2012, sales totaled $2.357 billion, a 14% increase over the $2.075 billion in sales for the quarter ended April 30, 2011. Comparable store sales for the 13 weeks ended April 28, 2012, grew 9% over the prior year period.

But the real winner of the day was French luxury house Hermes, which posted Q1 sales growth of 21.9%. Its consolidated revenue reached €776.9 million, a rise of 21.9% at current exchange rates. Asian market was a strong wheel for growth, with China, Macau and Hong Kong accounting for up to 22% total sales improvement. Europe performed better than America (+27% versus 11%).