Hennes & Mauritz B

The H&M share rose intraday by 3.2% to 178.2 SEK (day high 180.6 SEK) after Citi put the stock on "Positive Catalyst Watch" and raised the price target to 171 SEK. At the same time, the founding Persson family, via Ramsbury, reported the acquisition of around 3.1 million B shares for approximately 544 million SEK, which was seen as a strong vote of confidence. The move is interpreted as a company-specific short-term catalyst ahead of the upcoming Q3 results; the stock remains below the 52-week high of 194.3 SEK. » More on de.investing.com

The Spanish High Court has prohibited H&M from carrying out daily bag checks of the last shift and monthly random locker checks in Spanish stores because these measures violate employees' personal rights. The unions UGT and CCOO brought the lawsuit; the court found that H&M could not sufficiently demonstrate losses caused by employee theft or distinguish them from other sources of loss. In the past three years only six of roughly 4,600 employees were dismissed for theft. The court pointed to security gates at staff exits as a less intrusive alternative for theft prevention. » More on de.investing.com

H&M admits that poor inventory management in some areas failed to satisfy demand and has weighed on profitability. Operating profit for March to May was 5.91 billion kronor, below analysts' expectations of 6.38 billion kronor, although sales remained stable. Lower consumer confidence in Europe and higher commodity prices such as cotton are weighing on results. The group plans to expand in Latin America and aims to open a store in Paraguay in the second half of the year and in Argentina in 2027. » More on zeit.de