STOCKHOLM—H&M, the world’s second-biggest fashion retailer, posted a forecast-beating 17 percent jump in March-May sales, joining main rival Inditex in reporting a rebound in demand as pandemic restrictions have eased.
Sales were, however, still lower than before the pandemic began. Investors also voiced concerns over profit margins ahead of H&M’s full quarterly earnings report due on June 29.
H&M in March flagged price hikes to compensate for higher raw material and transport costs. Meanwhile, souring consumer confidence in Europe and stores that were closed in Russia due to the war in Ukraine could prompt price markdowns to help shift unsold clothes….