On Tuesday, H&M shares increased 14% in early deals after the Swedish retailer beat its financial first quarter profit expectations by 2.08 billion Swedish krona ($196 million) compared to the forecast of 1.43 billion krona by analysts in a LSEG poll. The company reiterated its target of 10% operating margin in the first quarter, which reached 53.7 billion krona from 54.9 billion krona. H&M previously announced a focus on profitability amid pressure from growing competition from Zara