Hennes & Mauritz (H&M) Stock News
kr163.15
1.48%
Stockholm, Oct 12, 05:29 pm CEST.
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Hennes & Mauritz (H&M) Stock News
Sales from June through August rose 1% in local currencies—just above a UBS forecast looking for 0.7%—as summer collections were well received.
Swedish fashion retailer H&M on Thursday reported a bigger rise than expected in June-August operating profit, and said it expected sales in September to be up 1% in local currencies.
The billionaire family behind H&M is quietly increasing its stake, fuelling speculation it could take the fast-fashion retailer private as CEO Daniel Erver's turnaround efforts have so far failed to boost the shares or lift sales significantly.
RBC Capital Markets has flagged sluggish consumer demand in Germany as a growing risk for European retailers, cutting profit forecasts for both H&M and JD Sports Fashion PLC (LSE:JD., OTC:JDSPY).
Spain's High Court ordered H&M to immediately halt daily bag inspections of last-shift workers and monthly random locker searches, ruling on Monday that they violated employees' privacy rights.
The fast-fashion retailer H&M is a staple in many malls and shopping districts across America and much of the rest of the world.
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