H&M shares gained 7.5% in early trading as investors focused on the profit rather than second-quarter sales, which fell slightly more than predicted. Erver has said his focus is on profitability rather than solely sales growth.

The world's second-largest listed fashion retailer also said it expected sales in June, measured in local currencies, to rise 3%, an improvement after a 6% fall in the same period a year ago.

"Our collections are more current, they are more on trend, more fashionable, and the customer reception has been strong throughout this quarter," Erver said in a press conference.

United States (US) tariffs have caused "a very turbulent situation", Erver added, saying competitors had raised prices in the US as a result. H&M is focused on keeping prices competitive, Erver said, as consumers are particularly price-sensitive given uncertainty around the global economy.

In the March to May period, H&M's sales were 56.7 billion Swedish Crowns ($5.99 billion).

--Reuters--