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H&M Unveils New Brand as Firm Seeks to Revive Profit

  • Arket is first new brand since 2014 launch of & Other Stories
  • H&M shares gain as quarterly profit beats analysts’ estimates
A customer passes a display inside an H&M store in London.

A customer passes a display inside an H&M store in London.

Photographer: Chris Ratcliffe/Bloomberg
Corrected

Hennes & Mauritz AB announced the addition of its first new store brand in three years as the Swedish fashion retailer seeks to revive sales in key European markets.

The first Arket outlet will open in London in the fall, selling clothing and a limited range of home furnishings at prices slightly above the company’s main brand, H&M said Thursday as it reported first-quarter profit that beat analyst estimates. Stores in Brussels, Copenhagen and Munich will follow, and the brand will also sell online, initially in 18 European markets.