H&M Shares Jump 11% as Summer Collection Boosts Profit

Fashion retailer H&M's (HMb.ST) shares hit a 16-month high on Thursday after its second-quarter profit beat estimates as cost-cutting measures started to bear fruit and its summer collection benefited from warmer weather in Europe. H&M, which has lagged Zara owner Inditex (ITX.MC), has sought to raise its fashion appeal and boost its higher-priced brands, targeting shoppers less vulnerable to the rising cost of living as fast-fashion giant Shein takes market share with less expensive clothes.

Related Keywords

Paris , France General , France , China , Sweden , Swedish , Helena Helmersson , Bryan Garnier , Cedric Rossi , Reuters ,