H&M Flags More Price Hikes, Profits Boosted by Fewer Discounts

Budget fashion group H&M expects to raise prices further this year, it said on Wednesday after reporting forecast-beating profits with margins benefiting from fewer discounts.

H&M in the first half of the year raised prices in the face of higher transport and raw material costs, and Chief Executive Officer Helena Helmersson told Reuters prices would likely rise also throughout the rest of the year. Hikes would vary between markets depending on the competitive situation, she said. Read more at US News.