June 25 (Reuters) - H and M Hennes and Mauritz AB HMb.ST:

• HM CEO: WE HAVE SPOKEN TO TEAM IN VENEZUELA, NO CASUALTIES IN EARTHQUAKE

• HM CEO: WHILE WE ARE SATISFIED WITH PROFITABILITY WE ARE NOT YET WHERE WE WANT TO BE IN TERMS OF SALES

• HM CEO: THERE WERE POCKETS ACROSS PRODUCT TYPES WHERE WE HAD SLIGHTLY SHORT SUPPLY COMPARED TO THE DEMAND

• HM CEO: LOWER CONSUMER CONFIDENCE IN KEY MARKETS ACROSS EUROPE AFFECTED SALES

• HM CFO: WE SEE A SALES UPLIFT IN STORES WE HAVE UPGRADED SO FAR

• HM CEO: STARTING UPGRADE OF DIGITAL INFRASTRUCTURE IN SECOND HALF

• HM CEO: STILL HAVE MORE WORK TO DO ON PHYSICAL STORE NETWORK

• HM CEO: STELLA MCCARTNEY COLLECTION WAS WELL RECEIVED, ESPECIALLY BY YOUNG CUSTOMERS

• HM CFO: EXPECT HIGHER COSTS FOR FREIGHT IN Q3

• HM CEO: WE WILL CONTINUE TO WORK ON REDUCING INVENTORY IN RELATION TO SALES, BUT AT A SLOWER PACE

• HM CFO: EXTERNAL FACTORS ARE VOLATILE, FOR EXAMPLE COTTON PRICES HAVE SPIKED IN RECENT MONTHS, ADDING UNCERTAINTY TO GROSS MARGIN

• HM CFO: FOR THE LAST COUPLE MONTHS THERE HAS BEEN UNCERTAINTY ON RAW MATERIALS, FIRST PETROL-BASED AND NOW COTTON, BUT NOW WE CAN SEE PRICES COMING DOWN

• HM CEO: IN WESTERN EUROPE WE HAVE SEEN VERY WEAK CONSUMER SENTIMENT, UK HAS BEEN DIFFICULT

• HM CEO: LAYOFFS IN STOCKHOLM TARGET OFFICE WORKERS, STORE WORKERS NOT AFFECTED

• HM CEO: BY THE END OF THIS YEAR WE WILL HAVE REFURBISHED A QUARTER OF STORES GLOBALLY

• HM CEO: STRENGTHENING PRODUCT OFFERING IS THE MOST IMPORTANT WORK WE DO

• HM CFO: NORMALLY ESTIMATE 6-8 MONTH LAG FOR RAW MATERIAL PRICES TO AFFECT GROSS MARGIN

• HM CFO: SOUTHERN EUROPE HAS SHOWN RESILIENCE IN LAST MONTHS, UNLIKE CENTRAL AND WESTERN EUROPE

• HM CEO: CERTAIN CUSTOMER GROUPS ARE STAYING VERY RESILIENT, OTHERS HAVE A REALLY TIGHT WALLET AFTER SEVERAL YEARS OF INFLATION

• HM CEO: BIG INTEREST IN SUMMER CLOTHES IN LAST TWO WEEKS GIVEN THE HEATWAVE

Source text: [ID:]

Further company coverage: [HMb.ST]