Tag: $HM

Shares of H&M leapt 14% in early deals on Wednesday, after the Swedish retailer significantly beat profit expectations for its fiscal first quarter.

H&M’s new boss has pledged that the Swedish fast-fashion chain will invest more in reacting quicker to new trends, including by bringing some of its manufacturing from Asia closer to its main markets.

Shares of Swedish retailer H&M were down 9.8% at 11:20 a.m. London time on Wednesday, after the company announced weaker sales and the surprise departure of its chief executive.

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%.