FEATURE: The farm with an Ace up their sleeves
FEATURE: The farm with an Ace up their sleeves 2023-11-10
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FEATURE: The farm with an Ace up their sleeves 2023-11-10
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.
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.
H&M, which has lagged Zara owner Inditex, has sought to raise its fashion appeal and boost its higher-priced brands, targeting shoppers less vulnerable to the rising cost of living
H&M stock up after profit surpassed expectations in the second quarter. CEO Helmersson also confirmed that Q3 has started on a good note.