Hennes & Mauritz Action Forum

Swedish clothing company H&M has ended its supply relationship with suppliers in Myanmar due to labor conditions. The decision was made after increased reports of violations of workers' rights.

The group is responding to a report by the Business and Human Rights Resource Centre (BHRRC), a non-governmental organization, which reported abuses at 124 different factories. Wage cuts and wage theft were the most commonly reported offenses. Other fashion companies such as Inditex (Zara's parent), Primark and Marks & Spencer have already taken similar steps and severed their ties with Myanmar suppliers.

I think it's good that big fashion companies are increasingly putting emphasis on better working conditions. This shows an increased awareness of social responsibility and ethical working conditions. This measure marks an important step, but we should remain realistic, as there are still many grievances in the fashion industry that need to be addressed.

Are any of you invested in $HM B (-0,49 %) invested? How do you see the future of fast fashion companies?

I would like to know your opinion about $HM B (-0,49 %) as well as $ZAL (+1,5 %) interested. For me, retail like H&M and online retail like Zalando is virtually dead. For me, both companies are doomed. Are there other opinions and why?

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗞𝗲𝗶𝗻 𝗛𝗮𝗳𝗲𝗻 𝗶𝗻 𝗦𝗶𝗰𝗵𝘁 / 𝗩𝗪 𝗺𝗮𝗰𝗵𝘁 𝗲𝗶𝗻𝗲𝗻 𝗮𝘂𝗳 𝗧𝗲𝘀𝗹𝗮 / 𝗨𝗦𝗔 𝗶𝗺 𝗕𝗶𝘁𝗰𝗼𝗶𝗻-𝗛𝗶𝗺𝗺𝗲𝗹

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

As of today, Blackrock ($BLQA), Citigroup ($TRVC (+1,33 %)) and EMCOR Group ($EM4 (+2,55 %)) are trading ex-dividend.

𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈

Today, Domino's Pizza ($DKOB (-1,23 %)), Morgan Stanley ($DWD (+1,35 %)), Wells Fargo ($NWT (+1,06 %)) and Bank of America ($NCB (+1,3 %)) present their figures.

𝗜𝗣𝗢𝘀 🔔

Veganz - The Berlin-based company is planning to go public in the next few months. The offering volume is expected to be around 50 million euros. The targeted 35 million euros in gross proceeds are to be invested in a new production facility and in the growth of the company, which specializes in vegan and plant-based products.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

USA - The extreme backlog of container ships on the West Coast is to be relieved by making the Port of Los Angeles operate around the clock. Currently, there are about 500 thousand containers on board waiting to be cleared.

Especially fashion groups specializing in fast fashion are hit hard by the delivery bottlenecks, as Asian goods are very much behind schedule. Both H&M ($HMSB (-0,49 %)), Bohoo ($1B9 (+0,98 %)), as well as ASOS ($DYQ (+7,33 %)) are complaining about the current situation and expect further delays and rising raw material prices.

Volkswagen ($VOWA) - The automotive group wants to make production more efficient. VW CEO Diess has presented scenarios in the meeting of the control body with a strong reduction of jobs, which should affect up to 30,000 employees. This would mean that every 4th employee would be affected by the job cuts.

However, this measure is only to come into effect if the Group fails to make the transition to e-mobility quickly enough. Diess wants to compete with Tesla in the future, which plans to produce 500 thousand cars per year in Grünheide in the future.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

U.S. Becomes Bitcoin Stronghold - In the United States, the Bitcoin hash rate of 35% now ranks #1 in the world. The mining ban by the Communist Party of China is hitting Chinese miners hard. But as a result, other countries are benefiting greatly. Even Germany is overtaking China, currently carrying 4.5% of the Bitcoin hash rate. However, it is possible that Chinese miners, disguised by a VPN, continue their business in other countries.