The business reported that its overall revenue in the second quarter was SEK 54.5 billion (€5.2 billion), up 17% from the same period last year, and its net income was SEK 4.8 billion (€448 million), up 33%. Refinitiv’s poll forecasted a 3.87 billion kroner (€363 million) quarterly profit.
The boost, according to the business, was caused by a rise in consumer spending when coronavirus limitations were loosened and a decline in COVID-19 instances. The company’s CEO, Helena Helmersson, reported a considerable growth in physical store sales together with stable internet sales.
Following publishing of the papers, H&M stock increased 6% in Stockholm trading.
source: reuters.com
