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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

H&M’s September-November Profit Rises More than Expected as Sales Recover

A view shows an H&M warehouse at Magna Park in Milton Keynes, Britain, September 26, 2021. (Reuters)

Sweden's H&M reported on Friday a bigger profit rise than expected for the September-November period on the back of well-received collections and cost control.

Pretax profit at the world's second-biggest fashion retailer grew to 6.00 billion crowns ($640.1 million) from a year-earlier 3.67 billion in the period, its fiscal fourth quarter. Analysts polled by Refinitiv had on average forecast a 5.43 billion crown profit.

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