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H&M Earnings Return to Growth After Two-Year Slump

  • Company reduces level of inventory as well as discounts
  • Revenue growth maintains pace in start of fourth quarter
Bloomberg business news
H&M Beats 3Q Estimates for First Earnings Gain in Two Years
Updated on

Hennes & Mauritz AB rose to the highest in almost two years after a popular summer collection helped the Swedish retailer put a dent into its bulging inventory.

The stock rose as much as 7.5% after quarterly earnings gained for the first time this year. The third-quarter report was a rare bright spot in the gloomy world of retail after the bankruptcy of U.S. chain Forever 21 Inc. earlier this week.