H&M withstands tough market with quarterly earnings rise

Hennes & Mauritz, the world's second-largest fashion retailer, posted a bigger than expected rise in second-quarter pretax profit on Wednesday and said its newest collections had been well received despite tough macro-economic conditions. Photo: H&MPretax earnings reached 7.1 billion Swedish crowns ($1 billion), compared with a year-ago 5.8 billion and a mean forecast in a Reuters poll of analysts for 6.6 billion. "The year started well and the positive trend continued in the second quarter,"

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