H&M Group performed better than expected last quarter. Although revenue declined, profits were significantly higher than a year earlier. The fashion giant is nevertheless cautious about the rest of the year.
Early Black Friday
The Swedish fashion group reported an operating profit of 4.91 billion Swedish kronor (421 million euros), significantly higher than the 3.51 billion kronor (301 million euros) a year earlier and well above analysts’ expectations. Net profit amounted to 3.23 billion kronor (276 million euros).
