H&M exceeds expectations for a 33% increase in profit in the second quarter

H&M's second-quarter profit beats expectations

Sweden's H&M, the world's second-biggest fashion retailer, has today reported a 33% growth in quarterly profit which beat expectations, as shoppers flocked to its stores in the aftermath of the pandemic.

H&M exceeds expectations for a 33% increase in profit in the second quarter

[Stockholm 29th Reuters] - The financial results for the second quarter (March-May) announced on the 29th by Swedish fast fashion giant H&M on the 29th exceeded market expectations, with a 33% increase in profit. The number of visitors to physical stores has increased drastically. Online sales also continued to be strong. Profit before income taxes is 4780 million Swedish krona (47076 million dollars). It increased from 3590 million kronor in th…

Fashion Retailer H&M's Second-quarter Profit Beats Expectations

Sweden's H&M, the world's second-biggest fashion retailer, on Wednesday reported a 33% growth in quarterly profit which beat expectations, as shoppers flocked to its stores in the aftermath of the pandemic. The company reported a pretax profit of 4.78 billion Swedish crowns ($470.76 million) in the second quarter, up from 3.59 billion crowns a year earlier. Analysts polled by Refinitiv had on average forecast a 3.87 billion crown profit.