H&M, ASOS Shares Jump After Fashion Retailers’ Positive Updates Cheer Investors
By Dominic Chopping
STOCKHOLM–Shares in H&M and ASOS were among the biggest gainers in Europe on Thursday as investors rewarded the fashion retailers for positive trading updates.
Sweden’s Hennes & Mauritz reported fiscal second-quarter sales that were just shy of expectations as cold weather dented demand, but noted a good start to June, sending shares nearly 7% higher in early trade. Meanwhile, shares in ASOS jumped by almost 16% on Thursday morning after the UK online fashion retailer reported a return to profitability and confirmed its guidance.
H&M had cautioned in March that the start of the spring season had…
