H&M, which has lagged Zara owner Inditex, has sought to raise its fashion appeal and boost its higher-priced brands, targeting shoppers less vulnerable to the rising cost of living as fast-fashion giant Shein takes market share with less expensive clothes.
Sales from June 1-27 were up 10% from a year earlier, a good sign for the start of H&M's third quarter. The H&M womenswear collection, as well as strong performance from the Cos and Arket brands, drove the boost in sales, Helmersson said. "Of course that comes with an opportunity to adjust prices," Helmersson told Reuters in an interview.
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