H&M Q2 profit beats expectations despite "cautious" consumers

June 26, 2025 07:17 PM AEST | By EODHD

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H&M Q2 profit beats expectations despite — Image source: Kalkine Media

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STORY: H&M shares were up more than 6% Thursday (June 26). Investors were happy when the fashion giant reported a slightly stronger than expected second-quarter profit. They focused on the profit number rather than second-quarter sales, which fell more than predicted. Thursday's update was encouraging for CEO Daniel Erver as he tries to refresh the Swedish brand. He has said his focus is on profitability rather than solely sales growth.

Sales hit $5.99 billion in the March to May period - down from a year ago and below analyst expectations. But profit reached more than $626 million - above market projections. Zara owner Inditex also reported disappointing sales earlier this month. Its a sign consumers have pulled back from spending on clothes as U.S. tariffs create risks for global economic growth.

H&M further said it expected sales in June to rise 3%. That would be a big improvement after a 6% fall a year ago in the same period. Related Videos 04:06 Nike's 'fundamental momentum' is lacking ahead of Q4 earnings Yahoo Finance Video • 12 minutes ago 23:00 Is the Fed's pause making investors nervous or excited? Yahoo Finance Video • 41 minutes ago 04:41 Stock rally stalls, tech dominance, Fed focus: Market Takeaways Yahoo Finance Video • 12 hours ago 05:45 What's next for Tesla as its European demand evaporates Yahoo Finance Video • 12 hours ago View Comments

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