Fashion retailer H&M’s sales jump, but investors fret over margins

Published by
Reuters UK

By Anna Ringstrom STOCKHOLM (Reuters) -H&M, the World’s second-biggest fashion retailer, posted a forecast-beating 17% jump in March-May sales, joining main rival Inditex in reporting a rebound in demand as pandemic restrictions have eased. Sales were, however, still lower than before the pandemic began. Investors also voiced concerns over profit margins ahead of H&M’s full quarterly earnings report due on June 29. H&M in March flagged price hikes to compensate for higher raw material and transport costs. Meanwhile, souring consumer confidence in Europe and stores that were closed in Russia du…

Read More

See also  Oklahoma State linebacker Amen Ogbongbemiga tests positive for COVID-19 after attending protest

Leave a Reply