H&M Sees Improving Margins as CEO Revamp Gains Traction

Hennes & Mauritz AB’s posted quarterly profit that topped expectations, helped by demand for its women’s fashion and sportswear ranges, and said its gross margin looks set to improve in the second half.

Operating profit for the three months through May was 5.9 billion kronor ($625 million), the Swedish retailer said Thursday, above the 5.8 billion kronor analysts had expected. Sales in June are expected to rise 3% in local currencies, it said.