Why did H&M Hennes & Mauritz stock rally?

( (Chris Ratcliffe/Bloomberg News)) H&M Hennes & Mauritz's shares rallied after the Swedish fashion retailer reported better-than-expected quarterly earnings. The company said its spring collections had been well-received, lifting sales from February, and that an efficiency program helped boost its profit margin.

What products does H&M sell?

It offers sportswear, shoes, bags, beauty products, activewear, jeans, and ready-to-wear; and interior products, including bed linens, dinnerware, textiles, furniture, and lighting. The company provides its products under the H&M, H&M HOME, H&M Move, H&M Beauty, COS, Weekday, Monki, & Other Stories, ARKET, Afound, and Singular Society brand names.

Why did H&M shares surge on Wednesday?

Shares in H&M surged on Wednesday. H&M shares were on track to increase at their sharpest pace since June 2023 on Wednesday after the Swedish retailer posted better-than-expected first quarter results and reiterated plans to increase its margins to rates of 10% across the full-year 2024.