Swedish fashion retailer H&M has reported stronger-than-expected profit growth for the third quarter, with operating earnings surging 40% to 4.9 billion Swedish kronor (€440 million). The company's net profit reached 3.2 billion kronor, up from 2.3 billion kronor in the same period last year, indicating that its strategic shift toward focusing on its core brand is beginning to yield results. The positive earnings surprise sent H&M's shares climbing 12% at market opening.

The profit improvement came despite a slight decline in revenue, which fell from 59 billion to 57 billion kronor. The company attributed the revenue contraction primarily to negative currency effects, with exchange rate movements accounting for approximately five percentage points of the decline. Additionally, H&M reduced its store count by 4% during the period. On a currency-adjusted basis, the retailer actually achieved a modest 2% sales increase, which management suggested was supported by enhanced marketing efforts.

Inventory management showed significant improvement, with available merchandise declining by 9%, pointing to more efficient supply chain operations. The company also reported that its autumn collection has been well-received by customers so far. For September, H&M anticipates currency-adjusted sales to be in line with the previous year's level, though it noted this comparison is against a particularly strong September 2022 when cold weather drove an 11% sales increase.

The positive results from H&M follow recent encouraging signals from the broader fashion retail sector. Earlier this month, Inditex, the Spanish parent company of rival Zara, reported a stronger-than-expected start to the autumn season. The Spanish retailer has consistently outperformed H&M in growth metrics in recent years, benefiting from its lean supply chain and faster fashion cycle. H&M's latest performance suggests the Swedish company may be closing the competitive gap through its renewed focus on brand strength and operational efficiency.

Two senior leaders from ABB Electrification Service have been named among the Future of Field Service's prestigious 2025 Stand Out 50 Leaders, recognizing their significant contributions to advancing service innovation in the energy sector. Dr. Matthew Wise, Global Head of Strategy & Business Development, and Andressa Ferraz, Sustainability Advisory Service Manager for EMEA, were selected for their outstanding work in redefining field service capabilities and developing customer-centric energy solutions that support the global energy transition.

The recognition highlights the team's instrumental role in helping customers navigate complex energy challenges through new service business models and strategic collaborations. Their work emphasizes operational rigor, circularity principles, and long-term customer value creation, positioning ABB as a key partner for industries modernizing critical infrastructure and accelerating the shift toward smarter, cleaner operations. The award underscores ABB Electrification Service's commitment to extending asset lifetimes while supporting customers' sustainability objectives.

Stuart Thompson, President of ABB Electrification Service, praised the leaders' achievements, stating: "This recognition reflects Matt's and Andressa's commitment to redefining what field service can achieve when we work together with our customers as trusted partners. Their leadership in developing accessible energy solutions shows how service innovation can drive both performance and sustainability, all while remaining relentlessly focused on customer outcomes." He emphasized that their approach has enabled customers to better manage the complexities of renewable energy integration.

Dr. Wise has been instrumental in driving strategic partnerships and acquisitions to expand ABB's innovation ecosystem, particularly in digitalization, energy storage, and emerging technologies including artificial intelligence and edge computing. His collaborations with startups such as GridBeyond, Ndustrial, and Pratexo have enhanced ABB's ability to deliver sophisticated electrical asset management and real-time decision-making capabilities. Meanwhile, Ferraz has played a crucial role in pioneering ABB's newly launched Battery-Energy-Storage-Systems-as-a-Service offering, addressing critical market needs around energy storage and management solutions.