Fashion retailer H&M beats expectations in spring recovery
H&M beat first-quarter operating profit expectations with an operating profit of 2.08 billion crowns, up from 725 million. Sales at the start of its second quarter rose by 2 per cent. CEO Daniel Erver stated that the quarter’s sales improved with well-received spring collections, and their top priority is to strengthen sales. H&M plans to refurbish around 250 stores this year, open around 100 new stores, and close 160 stores.