H&M , the world's second-biggest fashion retailer, reported on Thursday its...
), the world’s second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track.
H&M has been spending heavily on reviving its business in the face of years of falling profits and growing inventories due to slowing sales at its core brand’s stores amid tougher competition and changing shopping habits. Pretax profit in the June through August period beat expectations, growing to 5.0 billion crowns from a year-ago 4.01 billion. Analysts had on average forecast a rise to 4.93 billion crowns, according to Refinitiv data.
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