Hennes & Mauritz Q2 Profit Edges Up, Net Sales Down; Sees Flat Sales In June; Stock Drops

H&M Group reported slightly higher net profit in its second quarter despite weak net sales. The update points to mixed operating conditions: profit held up, but demand and revenue trends remain soft. The news is material for H&M shares but is unlikely to have broad market impact.

Analysis

H&M Group reported slightly higher net profit in its second quarter despite weak net sales. The update points to mixed operating conditions: profit held up, but demand and revenue trends remain soft. The news is material for H&M shares but is unlikely to have broad market impact.