H&M Profit Tops Estimates in Sign CEO Revamp Gaining Traction
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Hennes & Mauritz AB reported better-than-expected profit, helped by tighter cost control and strong demand for its women's fashion and sportswear ranges, a sign Chief Executive Officer Daniel Erver's turnaround strategy is finally progressing.
Operating profit for the three months through May was 5.9 billion kronor ($625 million), the company said Thursday, above the 5.8 billion kronor analysts had expected.
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