Tag: Apparel Stores

H&M cast doubt over its full-year profit margin target on Thursday after missing quarterly earnings forecasts and predicting a fall in June sales, sending shares in the world’s No.2 listed fashion retailer down almost 14%.

Fashion retailer H&M’s 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.

Shein, the fast-fashion e-commerce juggernaut, is poised to keep gobbling up market share in the U.S., according to UBS .

H&M posted slightly weaker-than-expected fiscal second-quarter sales on Thursday, but prospects for a better third quarter after a strong start in June sent shares in the Swedish retailer up by 6%.

Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress — and has managed to significantly improve its margins, which sent shares surging in extended trading.