Retail fortunes: H&M soars, Ted Baker tumbles

Conflicting evidence Thursday regarding the fate of big stores.

Shares in H&M soared as much as 6.5% in morning trade.

That after the world's largest fashion retailer posted its first quarterly profit rise in more than two years.

H&M has been spending heavily on reviving its business after a long decline.

Now it says sales are on the up, and more stock is being shifted without discounts.

It's a very different story at Ted Baker.

The UK firm issued its second profit warning in four months on Thursday.

New boss Lindsay Page say business conditions are the worst they've been in decades.

Ted Baker shares tumbled more than a third following the news.

Like many main-street retailers, it's been battered by online competition and heavy discounting.

Weak consumer demand ahead of Brexit isn't helping either.

Back at H&M though, shares are now up more than a half this year.

For all the gloom, bricks-and-mortar retailers aren't quite dead yet.